Andrew Bailey

Pensions 'probably top of the list' for societal importance, says FCA chief

Fourth letter in saga

Emphasis more on proactive supervision than enforcement

'Jury still out' on technology and advice

Bailey took the helm at the FCA on 1 July

'Issues need to be looked at'

Culture is 'of the utmost importance to financial regulators'

Volatility could spark outflows

Advisers have broadly welcomed the incoming head of the Financial Conduct Authority's (FCA) shift away from the tough stance of his predecessor, but are wary it heralds a softening approach to wrongdoers.

He will not adopt the 'shoot first, ask later' approach