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

FOS partially upholds complaint against SJP for failing to provide annual reviews

FOS partially upholds complaint against SJP for failing to provide annual reviews

SJP failed to provide five annual reviews for client

Sophia Panayi
clock 23 September 2026 • 3 min read
FCA: Simplified advice rules update imminent; MPS review outcome set for 2027

FCA: Simplified advice rules update imminent; MPS review outcome set for 2027

Regulator's Kate Tuckley gives update

Isabel Baxter
clock 08 September 2026 • 3 min read
DB transfer adviser hit with provisional FCA ban and £742,700 fine

DB transfer adviser hit with provisional FCA ban and £742,700 fine

Daniel Thomas advised 53 clients, including four British Steel scheme members

Sophia Panayi
clock 03 September 2026 • 2 min read