FSA bosses keep jobs despite NRock failures

Speaking to the Treasury Select Committee in Westminster, FSA chief executive, Hector Sants also revealed that staff bonuses were not cut despite the major failings of the regulator. Sir Callum McCarthy, chairman of the FSA, told the Committee that not one of the regulator's 2,600 staff had been dismissed for failing to supervise Northern Rock, which caused the first British bank run for over 100 years. Michael Fallon MP, sub-chairman of the Committee, responded by saying: “Sir Callum don't you think it would have been an acknowledgement of the extent to which you recognise the failures...