FSA

The Tories would transfer UK financial regulation to the Bank of England within a year of taking power, the shadow financial secretary to the Treasury says.

The regulator has warned it will look to increase the financial penalties it charges to firms in breach of regulatory rules, its latest fee consultation has revealed.

Hector Sants' resignation shouldn't really come as a surprise - even turkeys don't vote for Christmas.

The AMI says procuration fees must remain a remuneration option when the FSA sets its final rules for the mortgage market next month.

Hector Sants is being headhunted by the Tories for a top job at the Bank of England or the Treasury, according to reports.

Hector Sants exits the FSA having fostered an environment of collaboration and consultancy within financial services, the Institute of Financial Planning (IFP) says.

Hector Sants' replacement at the FSA needs to better balance consumer protection and interests with care for those working in the industry, the Association of IFAs (AIFA) says.

Hector Sants's three years as chief executive of the FSA must be among the most eventful of any regulator in history.

Hector Sants' departure as chief executive of the FSA will have no bearing on the RDR, despite it coming just two years before the 2012 implementation deadline, the Personal Finance Society (PFS) says.

FSA chief executive Hector Sants will step down in the summer after three years in the role.