Money Advice Service 'will be gone by 2015'

clock

The controversial Money Advice Service (MAS) will likely be shut down when it next comes up for review in 2015, according to Association of Mortgage Intermediaries (AMI) chief executive Robert Sinclair.

"The MAS is here for at least another two years," he said. "[But] I think, at the end of that point, it will be reviewed and probably shut down, unless the new management team gets to grips with it in a different way." Sinclair, speaking at a conference hosted by conveyancing services provider Myhomemove, said a government decision to introduce financial education in schools would remove part of the MAS' purpose. "I sit on [the MAS's] industry consultation body, and it struggles to get a grip on what it really wants to deliver. "The biggest single thing that is going to shift finan...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

FCA and FOS release call for input to modernise redress system

FCA and FOS release call for input to modernise redress system

Comes after Rachel Reeves’ Mansion House speech

Isabel Baxter
clock 15 November 2024 • 3 min read
Chancellor targets FOS modernisation and FCA consultation

Chancellor targets FOS modernisation and FCA consultation

Consultation part of the advice guidance boundary review

Isabel Baxter
clock 14 November 2024 • 3 min read
FCA issues warning notice against Crispin Odey over 'lack of integrity'

FCA issues warning notice against Crispin Odey over 'lack of integrity'

Regulator alleges 'reckless disregard' on governance

Cristian Angeloni
clock 04 November 2024 • 2 min read