The Financial Services Authority is considering major making 'radical changes' to its approved persons regime, according to a report in the Sunday Telegraph.
The paper said the watchdog was reviewing the way it approves senior people after it emerged Lord Stevenson, former chairman of HBOS, stepped down from a senior role at an investment firm last month. The firm, Loudwater Investment Partners, has links with an investment vehicle run by HBOS, the report added. The report said the Parliamentary Commission on Banking Standards was likely to make recommendations on how regulators should treat senior managers, directors and other finance workers involved in a future collapse or scandal - including the possibility of setting up an independent ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
