Industry welcomes “regulation heavyweight” to FCA role
Insurers broadly applaud Andrew Bailey’s appointment to the top job at the FCA, but brokers express concern over the regulator’s promotion of an “establishment” figure
Andrew Bailey’s appointment as chief executive of the Financial Conduct Authority (FCA) for a five-year term has received a mixed response from the broking community. He is expected to take up the role in July 2016 moving across from the Prudential Regulation Authority (PRA) at the Bank of England.
The British Insurance Brokers’ Association (Biba) stated they were pleased to see such a “weighty appointment”. Biba CEO Steve White said Bailey is a “regulation heavyweight” who “knows his way around
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