FSA relaxes non-exec recruitment scrutiny

The FT said firms had complained the process was making it harder for them to make non-exec appointments. It said the industry had noted a share drop-off in the number of applications for board posts at financial groups that have been called for interview by the FSA. The report said the change in approach was a "marked shift" from the line taken after the collapse of Lehmans and the government rescue of RBS in 2008, after which the FSA examined all board room candidates. These candidates were subject to interviews by a panel of financial industry grandees. The report added many people...