Andrew Bailey

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

Andrew Bailey to take over in July

The former chief executive of The Co-operative Bank yesterday accused his successors of taking their "eye off the ball" ahead of the lender's failed bid to buy more than 600 Lloyds branches, a move which exacerbated a £1.5bn capital hole in its accounts....