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U.K. Chancellor to Give Lawmakers More Oversight of Top FCA Appointment

By Irene Madongo

British lawmakers will have a greater say going forward in choosing who runs the country's primary regulator of financial conduct, U.K. Chancellor George Osborne said in a letter Tuesday. Before finalizing the appointment of future chief executives of the Financial Conduct Authority (FCA), HM Treasury will give the U.K. Parliament's Treasury Select Committee (TSC) time to formally discuss the nominations and potentially recommend consideration by the broader House of Commons, he wrote in the letter. "The government will make time for this motion and respect the decision of the House," said Osborne, who separately disclosed plans to back legislation that...

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