BusinessCompany NewsSplit in FSA leadership likely

Split in FSA leadership likely

The role of chief executive and chairman of the Financial Services Authority could be split as the financial watchdog searches for a replacement for Sir Howard Davies, who announced yesterday he would step down next autumn.

Link: Confirmed: Sir Howard to leave FSA

The proposal to split the role had been proposed when the FSA was first created in 1997, as a seperation of duties was seen as desirable under the guidelines of corporate governance.

Although the Treasury has not made a decision on the issue, many industry figures believe the role should be split because of the FSA’s increased prominence, its wider powers and expanded role, according to the Financial Times

John Tattersal, financial services partner at PricewaterhouseCoopers said: ‘I think the role should be split unless you get a very unusual individual who can combine both roles.

‘The chairman post could be to look after international regulation and strategy and the chief executive role could be more day-to day regulation.’

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

3m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

7m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

7m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

10m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

10m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

10m Emma Smith, Managing Editor