The Personal Finance Society board is to investigate complaints from parent body the Chartered Insurance Institute that it has made a number of governance failings.

The Chartered Insurance Institute has extended a consultation on plans to take over the Personal Finance Society board by seven working days.

The Chartered Insurance Institute (CII) has confirmed that it will do a U-turn and reinstate the axed position of Personal Finance Society (PFS) CEO. 

Personal Finance Society members want the CEO role - held by Keith Richards until the position was axed last year - to be reinstated, according to the results of a major CII / PFS membership consultation.