Former FSA chief executive Hector Sants has been awarded a knighthood in today's New Year honours list.
Sants (pictured), whose spell at the helm of the FSA encompassed the financial crisis and the subsequent decision to replace the regulator with two new bodies, has been knighted for services to financial services and regulation.
The award comes despite Sants having faced heavy criticism during his tenure following the near-collapse of the UK banking system in 2008.
The FSA's own report into the failure of RBS, published in late 2011, found numerous faults among the regulator's practices.
A subsequent Treasury Select Committee hearing in January 2012 saw Sants defend his own role and suggest predecessor John Tiner bore more responsibility for the lack of adequate oversight.
Sants' role in overseeing the introduction of the Retail Distribution Review was also subject to criticism, not least in the FSA's pre-emptive rejection of a TSC report calling for a one-year delay in implementation. Sants later apologised for the "clumsily worded" statement.
The former UBS banker became FSA CEO in July 2007, having spent three years heading the regulator's wholesale markets arm.
He initially planned to stand down in the summer of 2010 but was convinced to stay and oversee the move to a 'twin peaks' financial regulatory model, before eventually departing in June 2012.
Earlier this month it was revealed Sants will join Barclays in January as head of compliance, a newly-created role which will also see him take responsibility for the bank's relationships with governments and regulators around the world.
Another City figure to have recently joined Barclays, former Legal & General CEO Tim Breedon, has been made a CBE in the latest honours list. Breedon became a non-executive director at the bank in November.
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