The FCA’s smaller business practitioner panel is seeking to gain oversight of the Money Advice Service’s (MAS) annual business plan, with a view to being able to comment on the costs of the service against the benefits.  The news follows industry concerns on the costs of the service in relation to the outcomes.

MAS is a service which was set up to provide free and impartial money advice to the consumer. MAS is funded by the FCA on an annual basis and the regulator has to approve the service plans for MAS each year.