Mass resignations appear to be taking place in some of the Personal Finance Society’s regional committees.
Nearly all regional committee officers at two local branches, Plymouth & Cornwall and Central Scotland, appear to have quit.
All officer positions at the Plymouth & Cornwall committee are now vacant.
There are also a substantial number of vacancies in three other committees: Stamford, Surrey and Sussex.
Details of the vacancies and the reasons for them have yet to be confirmed by the Personal Finance Society which has been asked for comment.
The PFS has 26 regional committee stretching from North Scotland to the South West of England which run local events and committee meetings for the PFS’s 40,000 members around the country. They are mainly run by PFS members who volunteer as committee officers.
There are signs the move is a protest about PFS parent body the Chartered Insurance Institute’s intervention in the PFS board.
The PFS and CII are involved in a bitter dispute about the future direction of the PFS and the governance of the PFS board. The CII has appointed three new CII directors to the PFS board and plans to take the majority of board positions by February.
Many PFS Past Presidents and members have protested about the move by the CII and have accused the CII of trying to take control of the PFS board for financial reasons.
The CII has denied this and says that there have been many governance failings on the PFS board and it is acting in the best interests of PFS and CII members.
• This is a breaking story, please check late for updates.
