McCarthy, former head of energy regulator Ofgem, takes over as chairman today, while John Tiner, the FSA’s current managing director, assumes the role of chief executive.
Sir Howard has left the business world and entered academia, becoming head of the London School of Economics.
During his seven years in charge Sir Howard developed a reputation as a tough enforcer, particularly after bringing in tough anti-money laundering requirements for financial services companies as well as ushering in full enforcement powers for the FSA as it took over full regulation of the City.
However, during his reign, the FSA was criticised for the way it handled the split capital investment trusts ‘splits’ scandal.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements