PFS board calls CII claims untrue
Personal Finance Society member directors have called claims by the Chartered Insurance Institute about PFS board governance failures untrue.
On 21 December the CII Group appointed a majority of directors to the PFS board, seizing control of it with immediate effect.
CII claimed the decision was made due to severe governance issues on the PFS board, but denied it was a board ‘takeover’.
PFS member directors and ‘co-opted advisors’ have now issued a statement refuting this, and expressing ‘severe disappointment’ with the move.
“In particular we note that the comments made about governance failures and other failings by the PFS Board
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