Firm warns of power vacuum following Sants departure from FSA
The UK financial services industry needs to remain calm despite the announcement of Hector Sants' departure from the Financial Services Authority (FSA), warns Wolters Kluwer Financial Services.
The company said that while there is fear within the industry that Mr Sants’ departure will create a significant power vacuum, firms should stay focused on current regulatory requirements during this time of transition.
Mary Stevens, editorial manager at Wolters Kluwer Financial Services, said: “This was not timely news for the UK financial services industry, as it effectively leaves us without strong leadership from the regulator at a time when it’s needed most.
"The Treasury has instructed the
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