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TSC Member Says FCA Time Lines Don’t Add Up

Treasury Select Committee member John Mann MP says today’s comments from Andrew Bailey prove that the time lines regarding his appointment simply don’t add up.

Andrew Bailey was appointed yesterday by the Chancellor to take over the Financial Conduct Authority but speaking today Mr Bailey said “this only happened over the course of this month, coming back after Christmas."

This contradicts the version of events put forward by Tracey McDermott and Chancellor George Osborne. Ms McDermott told the Treasury Select Committee that she withdrew her application following her interview on the 9th December but George Osborne announced this decision in January.

John Mann said “The events leading up to the appointment of Andrew Bailey is now looking very murky and the version of events put forward simply don’t add up.”

Mann continued “We need to have the answers to these three questions put in the public domain:
1- When was the FCA board informed Tracey McDermott had pulled out of the race to succeed Martin Wheatley?
2- How many other candidates were interviewed for the position?
3- What role did George Osborne and his office play in these events?


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