A PYMNTS Company

UK: Martin Wheatley is disappointed at leaving FCA

By  |  July 22, 2015

Martin Wheatley has said he does not want to leave his job at the Financial Conduct Authority, and believes there is more work to do at the regulator.

The City’s chief regulator was last week ousted from the role by George Osborne, after it emerged the Chancellor had decided not to renew Mr Wheatley’s contract when its current term comes to an end in March.

Mr Wheatley led the establishment of the City watchdog, and has been its chief executive since it was launched in April 2013.

“Frankly, I am disappointed to be moving on, and do so with a sense of unfinished business,” Mr Wheatley told the regulator’s annual public meeting in London.

That “unfinished business” includes the implementation of the Fair and Effective Markets Review which the FCA conducted with the Bank of England, as well as the new Senior Managers’ Regime which is designed to hold senior executives in finance firms more accountable for their actions.

Full content: The Financial Times

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.