Man at the top: What will Andrew Bailey bring to the FCA?

Bailey took the helm at the FCA on 1 July

clock • 4 min read

Martin Wheatley was ousted at the financial services regulator last year to be succeeded by the Bank of England's Andrew Bailey. Since then a number of banking investigations have been dropped so is this a sign of things to come? Alex Shaw takes a look

The first question to ask when considering the appointment of any CEO of the Financial Conduct Authority (FCA) is whether it actually makes any difference? For many observers, the sacking of Martin Wheatley in July 2015 marked the point at which the FCA ceased to be a genuinely independent regulator, becoming a vessel for the furtherance of the government's wider fiscal approach. This perceived shift began with a distinct change in the mood music around banking, as a newly emollient Chancellor George Osborne matched rhetoric about a ‘new settlement' with specific policy changes on the...

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

FCA looks to drop annual suitability review requirement for ongoing advice services

FCA looks to drop annual suitability review requirement for ongoing advice services

Regulator pushes for ‘periodic’ assessments instead

Isabel Baxter
clock 25 March 2026 • 2 min read
FCA considers trail commission future as it consults on simplified advice

FCA considers trail commission future as it consults on simplified advice

Follows targeted support work

Jen Frost
clock 25 March 2026 • 2 min read
FCA updates incident and third-party reporting rules with cyber-attacks on the up

FCA updates incident and third-party reporting rules with cyber-attacks on the up

Regulator realises attacks are becoming ‘more frequent and more sophisticated’

Isabel Baxter
clock 18 March 2026 • 2 min read