Hong Kong watchdog chief could control UK IFAs

Laura Miller
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Martin Wheatley, head of Hong Kong's financial regulatory body, has emerged as a leading candidate to head the Consumer Protection and Markets Authority (CPMA) when it is spun out of the FSA next year, according to reports.

Wheatley, a former deputy chief executive of the London Stock Ex­change, has already said he plans to leave his post at the Hong Kong Securities and Futures Commission in June, the Financial Times reports. A final decision is expected within the next few weeks as the FSA continues preparations for its 2012 break-up into the Prudential Regulatory Authority (PRA) and the CPMA whose remit will encompass financial advisers. Margaret Cole, FSA director of enforcement, is considered the leading internal candidate on the shortlist to head the CPMA. Carol Sergeant, former head of risk at L...

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