Thousands of Personal Finance Society (PFS) members have responded to its consultation which called for their opinion on the Chartered Insurance Institute’s (CII) take over of the PFS board.
The consultation, which closed today (27 January), was opened following the CII's decision in December to appoint three new institute directors to the PFS board, giving it an overall majority. The move followed a period of independent mediation between the two bodies which focused on the future autonomy of the PFS and its financial affairs. In a webinar last week, it was revealed that the PFS and CII had agreed a heads of terms agreement following the mediation but the CII, in a shock move, decided to take over the PFS board over "governance failings" that had not been addressed. The ...
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