FSA vets job movers
A NUMBER of executives have withdrawn their applications for senior roles at UK financial institutions after the Financial Services Authority (FSA) has questioned their suitability.
Addressing the Association of Corporate Treasurers, FSA chief executive Hector Sants said that the regulator has conducted interviews with 51 candidates for senior roles, and that a number have been withdrawn after questions were raised “concerning the candidates’ fitness and propriety”.
The FSA has increased its scrutiny of executives and directors following criticism that bad management led to the near-collapse of several large banks. But critics fear that increased regulation could strangle the UK financial sector and drive the City’s talent overseas.