FCA chief: Mass mis-selling not possible under new regulator

Martin Wheatley, current managing director of the consumer and markets business unit at the Financial Services Authority (FSA), and who will become head of the new Financial Conduct Authority, said the FCA will be better at protecting consumers from mis-selling and poor products. Wheatley today told the Treasury Select Committee (TSC) the FCA will scrutinise new products at an earlier stage in their design to improve consumer outcomes. He said the FCA, had it been in place at the time, would have tackled the PPI problem far earlier than the FSA did. "We would have been looking at t...