The Consumer Financial Education Body (CFEB) was an independent British body that promoted personal

financial literacy Financial literacy is the possession of the set of skills and knowledge that allows an individual to make informed and effective decisions with all of their financial resources. Raising interest in personal finance is now a focus of state-run prog ...

in the

United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and North ...

.Consumer Financial Education Body
/ref> It became the Money Advice Service in 2011.

History

CFEB was established by the

Financial Services Authority The Financial Services Authority (FSA) was a quasi-judicial body accountable for the financial regulation, regulation of the financial services industry in the United Kingdom between 2001 and 2013. It was founded as the Securities and Investmen ...

(FSA) as required by the ''Financial Services and Markets Act 2000'' (as amended by the ''Financial Services Act 2010''), and came into existence on April 26, 2010. The body has a mandate from

Parliament In modern politics, and history, a parliament is a legislative body of government. Generally, a modern parliament has three functions: Representation (politics), representing the Election#Suffrage, electorate, making laws, and overseeing ...

, with all-party support, to develop consumer financial education in the UK and is responsible for enhancing the public's understanding and knowledge of financial matters and their ability to manage their own financial affairs. Tony Hobman was named CEO of the new organisation, taking over on May 17, 2010.

Chris Pond Christopher Richard Pond (born 25 September 1952) is a former Labour Party politician in the United Kingdom. He was Member of Parliament (MP) for Gravesham in Kent, from 1997 to 2005. Early life He went to the Minchenden School (became compr ...

, Director of Financial Capability at the FSA was named a senior advisor to both CFEB and the FSA. 134 FSA staff in the FSA's financial capability division were transferred to CFEB, located in offices at

Canary Wharf Canary Wharf is an area of London, England, located near the Isle of Dogs in the London Borough of Tower Hamlets. Canary Wharf is defined by the Greater London Authority as being part of London's central business district, alongside Central Lo ...

, London in its first year. On April 4, 2011, CFEB was rebranded as the Money Advice Service.

External links

{{Reflist Personal finance education