FCA chairman: I want to speak to the regulated

John Griffith-Jones, who has been embedded in the Financial Services Authority (FSA) for just six weeks at three days a week, was grilled by the Treasury Select Committee on the accountability of the FCA this morning. He told the committee the FSA did not do a "particularly good job" in 2007-8 but that no-one in the industry saw the financial crisis coming. His key role is to set up an effective board, he said, though he disappointed MPs by not being able to list the criminal sanctions the FCA will have at its disposal to fight financial crime. Griffith-Jones said he would be talki...