RPC research shows FSA resignations up 128% in a year
There has been a 128% leap in the number of staff resigning from the Financial Services Authority in just one year as the government proposes to abolish the regulator, according to city law firm Reynolds Porter Chamberlain.
The lawyers discovered the data through a Freedom of Information Act request. It shows that 121 FSA staff resigned in the second quarter of 2010, 128% more than the same period in 2009 when 53 staff resigned.
According to the firm, the rush of staff leaving the FSA will prompt concerns among financial services firms that it will take longer for them to get regulatory approval from the FSA on key issues such as launching a new business or appointing senior personnel. It added there may be
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