Regulators' staff turnover near-doubles since split

Data seen by Reuters has revealed both organisations have seen a dramatic uptick in staff turnover since the Financial Services Authority (FSA) was split in two earlier this year in the wake of a regulatory shake-up following the financial crisis. Staff have been leaving the FCA at an annualised rate ot 12% and the PRA at a rate of 11%, according to data provided by both bodies to Reuters under the Freedom of Information Act. This compares to staff turnover in the final year of the now defunct FSA of 6.9%. Over the past five years, it averaged 7.8% turnover. The PRA provided data f...