MAS chief Rookes 'clarifies' remarks about adviser ethics

Carmen Reichman
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Money Advice Service (MAS) chief executive Caroline Rookes did "not intend" to put the ethics of financial advisers in question, the service said following a raft of criticism from the industry.

Rookes, who was quoted saying she was "worried" about the ethics of financial advisers in a speech delivered at the Labour Party Conference, was merely "agreeing with another participant at the event that all advisers need to operate ethically", the MAS said. Rookes' comment had attracted severe criticism from some parts of the industry, which called it "unfair" and "disproportionately negative". Personal Finance Society (PFS) chief executive Keith Richards (pictured) said the comments were "inappropriate" and "dis-serve the general public's best interests", potentially further deterr...

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