MPs on the Treasury Select Committee (TSC) will question financial secretary Mark Hoban on the Money Advice Service (MAS) later this week.
The Money Advice Service (MAS) referred just 0.2% of its 1.3 million users to regulated financial advice last year, it has been revealed.
The Financial Services Authority (FSA) board has expressed concerns about the accountability of the Money Advice Service (MAS).
The government has been criticised for its insistence that the Money Advice Service (MAS) should be responsible for educating consumers about risk.
The Financial Services Authority (FSA) is to commission an independent review of the Money Advice Service's (MAS) use of its resources next year, it has been revealed.