Advisers and other financial services stakeholders have questioned the relationship between the Treasury and the Financial Conduct Authority (FCA) following chief executive Martin Wheatley's somewhat surprising exit from the watchdog.
Following an announcement from the FCA on 17 July that Wheatley would be stepping down as CEO in September, it emerged the Chancellor George Osborne had opted against renewing the former deputy chief executive of the London Stock Exchange's contract. Though it said Wheatley had done "a brilliant job" running the regulator at a difficult time, it added "different" leadership was required. Tracey McDermott is to take over as acting CEO until a permanent replacement is found. Some stakeholders have suggested recent fallouts, such as when the regulator controversially briefed a national n...
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