The head of the incoming Financial Conduct Authority (FCA) has suggested the new body will adopt a less aggressive tone than its predecessor and will instead seek to "have a dialogue" with the companies and individuals it regulates.
Setting out his vision for the new regulator, Martin Wheatley addressed a comment made by former Financial Services Authority (FSA) chief executive Hector Sants that the industry should "be afraid" of its regulator. "You won't hear from us a 'be afraid' tone. We want a discussion with senior officials. We have to have a dialogue," Wheatley told a news conference on Thursday. "It's about having a balanced approach. It's important there is individual accountability. That will be a priority." The FCA is one of two regulatory bodies replacing the FSA from next month. Wheatley said the...
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