The Association of IFAs has welcomed the appointment of Hector Sants as chief executive of the FSA, but also points out his "little experience" in the retail adviser market.
AIFA says the move, which sees Hector Sants replace John Tiner, is a "signal of continuity" in the regulator's direction.
Sants, currently managing director of wholesale and institutional markets at the FSA, will take up his new post on 20 July.
Tiner has held the role since Septenber 2003 and is set to step down next Thursday.
Chris Cummings, director general of AIFA, says: “The FSA has already proposed some radical changes to the retail market that could have a major effect on the IFA profession.
"Hector has had little experience in this area; therefore, we aim to ensure that he has a good understanding on the importance of the intermediary industry to the retail market.”
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