FCA chief vows to end laid back regulation

Martin Wheatley

That was the message Martin Wheatley, managing director of the Financial Services Authority (FSA), gave to a British Bankers’ Association audience as he outlined a “new orthodoxy and regulatory approach” for the future of conduct regulation.

Mr Wheatley, who will be CEO of the FCA, made it clear he felt it was time for a new approach to get the right outcomes for consumers.

He said: "We need to develop a new orthodoxy and a new regulatory approach. I want the culture in your firms, from your

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