Move over Bailey: What advisers want from the new FCA head

Advisers want a more responsive regulator

clock • 2 min read

Advisers have told PA they would like to see to see a Financial Conduct Authority (FCA) boss who will not be “asleep at the wheel” when handling industry crises.

FCA chief executive Andrew Bailey will stand down after four years at the regulator's helm to become Governor of the Bank of England. Informed Choice Chartered financial planner and new director of client education Martin Bamford accused Bailey of inadequately responding to events that hit the finance industry hard. "As head of the FCA, Andrew Bailey was asleep at the wheel during the British Steel pension scheme transfer scandal and when Neil Woodford invested his portfolio in illiquid assets. He led the regulator through a woefully inadequate response to the Royal Bank of Scotland's...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Advice firm and alternative investment fund manager declared in default

Advice firm and alternative investment fund manager declared in default

Chancery Partnership and MCI Global Investment Advisors

Jen Frost
clock 09 March 2026 • 2 min read
Failed financial advice firms tracker

Failed financial advice firms tracker

Firms that the FSCS has confirmed as failed since the start of 2023

Professional Adviser
clock 09 March 2026 • 1 min read
Consumer Duty board reports: Everybody needs a friend – especially smaller firms

Consumer Duty board reports: Everybody needs a friend – especially smaller firms

'It is easier to turn a rowing boat than an oil tanker'

Alison Gay
clock 06 March 2026 • 4 min read