FSA appoints new retail markets MD to oversee IFAs

He replaces Clive Briault who left the regulator in April and received a £529,000 golden handshake, despite being in charge of the team which failed over its supervision of Northern Rock. Pain will have overall responsibility for regulating firms or groups whose business is predominantly with retail consumers. This includes the regulation of high street banks, building societies, insurance companies, mortgage lenders, retail financial services intermediaries and approximately 17,000 smaller firms engaged in the mortgage advice, insurance broking and investment advice sectors. In additio...