Two more PFS member directors resign after CII takeover

Vanessa Barnes and Gordon Wilson, who between them have served as PFS non-executive directors for 11 years, are departing after the Chartered Insurance Institute (CII) chose to take control of the organisation's board late last year. Both directors have expressed "deep misgivings" over the future of the society's £19m cash reserves if steps are taken to wind it up. They will propose a motion to the forthcoming PFS annual general meeting in September to block the CII or another entity from gaining control of the funds. The motion calls for PFS' reserves to be distributed amongst its...