MPs on the Treasury Select Committee (TSC) have once again called for upcoming legislation to give them the power to hold pre-appointment hearings for the chief executive of the Financial Conduct Authority (FCA).
The FCA will next year take over responsibility for the regulation of most firms, including financial advisers, and will be established through the Financial Services Bill, which is currently making its way through Parliament. Ahead of its second reading in the House of Lords on Monday, the TSC today published another report outlining its concerns about the bill, focusing on the accountability of the FCA and the Bank of England. The committee argued that pre-appointment hearings would bolster the legitimacy of the appointment of the FCA chief executive and dismissed the government's s...
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