Treasury Select Committee (TSC) chairman Andrew Tyrie has called on the industry to help parliament hold the financial services regulator to account to avoid "excessive regulation" that could "create the stability of the graveyard".
Speaking at the Association of Professional Financial Advisers' annual dinner on Wednesday, Tyrie warned the regulator needed to be under constant scrutiny to get "the balance right" of regulation that creates stability and leaves room for innovation. He said parliament would be observing regulatory developments but the industry needed to find a way to pass on information that the TSC could use as evidence, instead of "quietly whispering about shocking behaviour in the market in the regulatory sphere". Tyrie (pictured) told the audience: "We need regulation. An absence of regulation i...
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