Firms have no need to fear FCA, says Wheatley
Martin Wheatley, chief executive of the Financial Conduct Authority (FCA), has stated that the new regulator will be less aggressive than the Financial Services Authority (FSA).
Sister title Post reported that Mr Wheatley vowed that the “be very afraid of the FSA mantra”, encouraged by previous chief Hector Sants in 2009, would not be repeated.
Instead, he claimed: “"Our message to the industry is that we want them to understand what our objectives are, which are the right level of protection for consumers.
"As a regulator what we want for the industry is a culture that puts consumers' needs at the heart of every firm."
Mr Wheatley previously claimed that the FCA would
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