FSA chairman 'spent £66k on first-class flights'

clock

Adair Turner has spent more than £66,000 in the past 15 months flying around the world as FSA chairman - largely because he never flys any lower than business class.

Closer scrutiny of Turner's expenses bill reveals that, since June 2010, he has travelled to America, Germany, Switzerland, Japan and China, spending more than £4,500 per month, writes the Daily Telegraph. An unnamed source told the newspaper the chairman needed to travel outside economy class to allow him to rest and read confidential papers. In most instances, FSA executives are banned from travelling in anything but economy class, but it has made an exemption for Turner, who is also the government's chief climate change adviser. The FSA chief executive Hector Sants, by compariso...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Regulators urged to hold pension transfer 'bad actors' to account

Regulators urged to hold pension transfer 'bad actors' to account

Advisers report ‘widespread and sometimes extreme delays’

Sahar Nazir
clock 24 November 2025 • 5 min read
FCA bids to save firms £100m a year with transaction reporting changes

FCA bids to save firms £100m a year with transaction reporting changes

Aiming to reduce costs and improve quality of data

Isabel Baxter
clock 21 November 2025 • 1 min read
Government to reconsider rejection of Waspi compensation

Government to reconsider rejection of Waspi compensation

Rethink does not guarantee that financial redress will be awarded

Jonathan Stapleton
clock 12 November 2025 • 3 min read