Tyrie says FSA response to TSC report 'unacceptable'

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The chairman of the Treasury Select Committee (TSC) has criticised the FSA's "pre-emptory" response to its report into the Retail Distribution Review (RDR), which called for a one-year delay to RDR implementation.

In a strongly-worded letter to FSA chief executive Hector Sants, Andrew Tyrie MP pointed out how speedily the regulator dismissed the committee's suggestions. "You will be aware that last Thursday the FSA circulated an embargoed response to our RDR response, rejecting in a pre-emptory manner our recommendation of a one year delay to the RDR's introduction," Tyrie (pictured) wrote. "This was issued within hours of the embargoed copies of our own report being distributed. "The Committee has discussed this. We deprecate the [FSA's] actions. "It was precipitate, giving the impressio...

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