The acting head of the Financial Conduct Authority (FCA) has defended the regulator against accusations of bias, saying it makes decisions based on "a fair and objective assessment of the facts" and not to please or curry favour with politicians.
In a speech designed to talk tough to critics of the regulator, who have cried foul at its decision to drop a key investigation into banks' culture and the ousting of hardliner CEO Martin Wheatley in favour of Bank of England insider Andrew Bailey, McDermott (pictured) was defiant "We are not here to be popular," she said. "It is important...
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
