£86K bonus for City watchdog

City A.M. Reporter
FINANCIAL Conduct Authority (FCA) boss Martin Wheatley received an £86,000 bonus as part of a pay package of £566,000, the regulator will reveal in its annual statement today.

Wheatley launched the FCA in April after splitting it off from the Financial Services Authority. Its first big action was to warn banks and borrowers of potential difficulties in repaying interest-only mortgages.

His pay was revealed last night by  Sky News’ Mark Kleinman.