FSA report details over £500,000 pay-off for Turner and Sants

Cash

The final annual report from the Financial Services Authority (FSA) has detailed that chairman Adair Turner received £252,000 when his contract ended while executive director Hector Sants received £300,178.

The figures for the financial year ended 31 March 2013, showed that Turner was paid £785,153 in total, up from £500,474 the year before.

According to the report Turner received the £252,000 payment in April "as compensation for termination of employment as he was restricted in respect of taking paid employment for a period of six months from April 2013 to September 2013."

His fixed-term contract, which was stopped on 31 March 2013, was due to end on 19 September.

Sants, who resigned as chief

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.

You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Age? View our subscription options

Register

Sign up and gain access to five complimentary news articles every month.

Already have an account? Sign in here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: