BusinessCompany NewsCity watchdog shows its power

City watchdog shows its power

If you are one of the few accountants who cannot already feel the Financial Services Authority looking over your shoulder, expect that to soon change.

Link: The top 50 list in full

According to the Accountancy Age Financial Power List 2003, the FSA is emerging as the key regulator influencing UK accountants. John Tiner, managing director of consumer, investment and insurance of the FSA and an early favourite to succeed Sir Howard Davies when he steps down as head of the regulator in September, tops the list. The former Andersen partner is already a key power-broker behind the scenes and his influence will only grow this year.

And Tiner is only one of four FSA executives to appear on the list. Sir Howard himself is ranked 39th, listings director Ken Rushton is 34th with managing director (regulation and risk) Carol Sargeant 41st.

Elsewhere, competition minister Melanie Johnson is second. Already highly regarded within government, the next few months will see her play a key role in determining the future regulatory structure of accountancy – possibly by further increasing the power of the FSA.

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