13 Oct MP Lambasts FSA Over Reaction to Calls for a Delay to RDR

MP Andrew Tyrie, who is the acting chairman of the Treasury Select Committee (TSC), has hit out against the FSA over the handling of MPs' calls for a delay to the upcoming retail distribution review (RDR). They claim the FSA's 'accountability deficit' has been highlighted by the refusal to consider the calls. He said "We made recommendations that appear to have been swept aside in almost a number of hours by the regulator." He said that the TSC are still in a dialogue with the FSA over the new regulations, however he is not optimistic that there will be any change to the plans. 'The government has announced a large overhaul of regulation, which gives a really wonderful opportunity to improve conduct of business regulation. We must get this right this time,’ he added.