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Tyrie wins advisers’ praise as he takes FCA to task
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by Michelle Abrego on Feb 10, 2014 at 10:12
Advisers have voiced support for MP Andrew Tyrie (pictured) and the Treasury Select Committee (TSC), following his criticism of the Financial Conduct Authority (FCA) over the impact of the retail distribution review (RDR), regulatory fees and execution-only services.
The TSC regularly scrutinises the regulator, but rarely does the advice sector receive as much airtime as it did last week when FCA chief executive Martin Wheatley and chairman John Griffith-Jones were hauled in for their biannual progress report.
Despite such high-profile issues as bankers’ bonuses and the ongoing Libor investigation, Tyrie and his cohorts decided to turn the spotlight on the FCA’s regulation of financial advisers.
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