HM Treasury

Organisation's tools and services to be carried forward

Underlying statutory framework made MAS ineffective

MAS was heavily criticised by MPs

FAMR explored mass-market access to advice

Only a small percentage of advisers responded to FAMR

Treasury gives FCA implementation deadline

The Treasury wants to make advice mandatory for sales of annuities on the secondary market, it has said in a statement today.

The Financial Conduct Authority (FCA) has set aside £400,000 to cover the man hours it expects to spend on its joint work with the Treasury, the Financial Advice Market Review (FAMR).

The Treasury is to delay its decision on whether or not to change the way pensions are taxed until at least next year's Budget, George Osborne said in the House of Commons.

The govt and FCA are consulting on the options for a time bar on complaints against financial advice