Andrew Tyrie re-elected as Treasury Committee chair

Andrew Tyrie re-elected as Treasury Committee chair

Andrew Tyrie has been re-elected to his position as chairman of the Treasury Select Committee, having been the sole candidate for the post.

Full results of the elections for all committees will be announced on 18 June, but yesterday evening (10 June) nominations for chair of the Treasury Committee closed and the decision was made.

Mr Tyrie is a Conservative MP for Chichester and has chaired the committee since 2010, having first become a member of the committee from 2001 to 2003 and then again from 2009 until now.

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During his time in charge, he has led scrutiny of the regulator, firstly raising concerns in October 2010 about RDR costs and then the following July accusing then chairman Hector Sants of taking “preemptory” and “unacceptable” action in dismissing the committee’s RDR report.

He has often fought advisers’ corner, for example last February suggesting the regulator should reimburse the industry £118m for regulatory fees they previously paid after proposed changes to the way the FCA allocated fees for investment intermediaries, meaning they would be lower.

Mr Tyrie also took the FCA to task over its botched life insurance market review, stating as recently as this April that it will take “many years” for the body to be taken seriously.