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FCA to appear before Treasury Select Committee

The Financial Conduct Authority (FCA) is to appear before the Treasury Select Committee (TSC) for its bi-annual grilling next week

FCA chief executive Martin Wheatley and chairman John Griffith-Jones will take questions from the committee, which is chaired by Conservative MP Andrew Tyrie, on 4 February.

They will face a group of MPs who are allowed to ask any questions related to the regulator’s work, reports sister publication Professional Adviser.

Subjects at this meeting could include the Lloyds fines, the scrapping of the approved persons regime for advisers, the FCA’s competition objective or anything to do with the Retail Distribution Review (RDR).

Wheatley appeared before the TSC in a question-and-answer session last September, when he admitted that a drop in adviser numbers was a concern.

The Treasury committee is made up of 13 MPs from all main parties who are appointed by the House of Commons to examine the expenditure, administration and policy of the Treasury, Revenue & Customs and various public bodies including the Bank of England and FCA.

Its current membership is: Andrew Tyrie, George Mudie, Mark Garnier, Stewart Hosie, Andrea Leadsom, Andy Love, Pat McFadden, John Mann, Brooks Newmark, Jesse Norman, Teresa Pearce, David Ruffley, and John Thurso.

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