Tyrie demands FCA address strong case for compensating 'overcharged' advisers

Tyrie (pictured) attacked both men for defending an anomaly in adviser fee block allocations identified last autumn, which he said constituted "overcharging" and put firms at a disadvantage, overcharged customers and made shareholders suffer. He proceeded by demanding the chairman should review the decisions taken by Wheatley in the past with regards to regulatory fees and explain them in a letter to the committee. Last October the FCA set out plans to reallocate adviser fee blocks after it detected an anomaly which meant advisers who have permissions to hold client money or administe...