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CFEB set up to help financial understanding PDF Print E-mail
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Latest Recruitment News - HR and Recruitment Legislation News
Written by DirectNews Feed   
Monday, 26 April 2010 00:00
CFEB set up to help financial understandingA new educational body which is intended to help people's understanding of financial affairs has been established by the Financial Services Authority (FSA).

The Consumer Financial Education Body (CFEB), which will work independently from the FSA, will aim to enhance understanding about financial matters and to improve the public's ability to manage their own economic affairs.

Nationwide financial education seminars form the main part of the CFEB's remit, along with working on the governmental money guidance service Money Made Clear. Current pensions regulator chairman Tony Hobman has been appointed as the body's chief executive and will take up his role next month.

Under the recently amended Financial Services and Markets Act, all members of the body - including the chair and chief executives - are accountable to the Treasury and the board must remain independent of the FSA at all times. Its annual budget must be also approved by the Treasury prior to the start of a new financial year.

Posted by James Strang.

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