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.’
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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
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