MPs given veto powers on FCA chief exec appointments

Chancellor George Osborne wrote to the Treasury committee to confirm members of the House of Commons, acting on the recommendation of the committee, would be given powers to halt the appointment of future FCA bosses. In future, the appointment will be made on a renewable five-year term set out in statute. Treasury committee chairman Andrew Tyrie said: "The FCA needs demonstrably independent leadership. Parliament's, and the committee's, influence over the appointment and dismissal of the chief executive of the FCA has been greatly strengthened by the arrangements set out in the Chance...