The founding chairman of the Financial Conduct Authority (FCA) John Griffith-Jones will step down after the completion of his first term in the role next March.
Griffith-Jones, who has chaired the regulator since its creation in April 2013, will not stand for a second term, with the FCA having faced much criticism over the past four years. This has been in light of a number of botched reports such as the regulator's mishandled response to an information leak about an upcoming investigation into closed book life insurance contracts, which wiped billions off the value of leading insurers. The regulator's failure led to an inquiry to assess the way it handled the release of sensitive information. The FCA was also attacked following its handli...
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