Tyrie in 'stability of the graveyard' warning to FCA

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 needs to be under constant scrutiny to achieve the right balance of regulation that creates stability and leaves room for innovation. He said parliament would be observing regulatory developments, but the industry needs to find a way to pass on information 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 is no...