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Tyrie hits out at FSA over lack of accountability
by Danielle Levy on Oct 11, 2011 at 11:20
Treasury Select Committee (TSC) chairman Andrew Tyrie MP has renewed his hostilities with the regulator, arguing the Financial Services Authority’s (FSA) handling of MPs’ call for a delay to the retail distribution review (RDR) highlighted its ‘accountability deficit’.
'We made recommendations that appear to have been swept aside in almost a number of hours by the regulator,' he said.
Tyrie (pictured) added the committee was still in dialogue with the regulator over the RDR but said he was not optimistic about any changes to the plans, speaking at an Association of Private Client Investment Managers conference.
He called for evidence and suggestions for regulatory change, as the TSC prepares for an inquiry into the shape of the Financial Conduct Authority, which will replace the FSA under the government’s planned overhaul of financial services regulation.
'The government has announced a large overhaul of regulation, which gives a really wonderful opportunity to improve conduct of business regulation. We must get this right this time,’ he said.
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by Jun Merrett on May 21, 2013 at 15:55