The Treasury Select Committee has urged the government to allow ample time for amendments to be made to financial legislation that will determine the powers of new regulatory bodies. A report published today by the committee criticises the current legislative proposals, claiming they do not allow for sufficient accountability or scrutiny of the Financial Conduct Authority, which will succeed the Financial Services Authority (FSA) when the Financial Services Bill is eventually passed. In order that the FCA remains transparent and accountable, the committee suggests that full minutes of each meeting are made available and that the chief executive be open to pre-appointment questioning by the committee.....Read more here--: MPs warn against rushing regulation reform