MPs call for greater transparency after FCA costs 'breach'

FCA costs increased in 2015/16 despite Commission's recommendation

Nicola Brittain
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MPs call for greater transparency after FCA costs 'breach'

Treasury Committee chairman Andrew Tyrie has accused the Financial Conduct Authority (FCA) of "breaching" its commitment to cost reduction and demanded that it provides a "clear and adequate explanation to parliament" when expenditure grows in future.

In a letter to FCA chairman John Griffith-Jones, Tyrie (pictured) also complained that the regulator's accounts "lacked clarity" for the same year and said that he wanted assurance that the FCA's a...

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