New string-puller at FRC?
TS HAS HEARD a rumour that the Financial Reporting Council could soon be answering to a new master.
There are whispers that the regulator – which currently functions independently, in much the same way as a quango – could be brought in house, effectively giving government control over the body.
TS was told it could be made an executive agency, joining the ranks of illustrious organisations such as the statistics authority and HMRC. The move would certainly give Haddrill and Co the extra powers they’ve been clamouring for, but they might find life is less fun when dancing to the government’s tune.
TS notes Haddrill would be comfortable in Whitehall, having previously worked in the department of energy and the department of trade and industry; his return to the civil service could herald red carpet and bunting to rival the royal wedding.