Concern grows over “shoot first” FCA

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Recent comments by the incoming head of the Financial Conduct Authority (FCA) have once again raised concerns about just how intrusive brokers will find the new regulator.

Martin Wheatley, who is currently managing director of the Financial Services Authority, first made headlines when he spoke of his contempt for incentive schemes on payment protection insurance. He described them as “rotten to the core”. And just a few weeks later, he promised at the Association of British Insurers’ conference