Hector Sants resignation could leave regulator hamstrung
Hector Sants resignation risks the regulator looking like a lame duck as political parties squabble over regulation, according to a City law firm.
Jonathan Davies, regulatory partner Reynolds Porter Chamberlain, said: “Taken with the Conservative Party threat to break up the Financial Services Authority (FSA), Hector Sants’ resignation risks the regulator being viewed as a lame duck.
“The head of the FSA is appointed by the Treasury and with a general election looming it would make sense for Hector’s replacement to be agreed amongst the main political parties – the problem is that they all seem at odds over what the role of the FSA should
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