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The writing’s been on the wall for FSA’s Hector Sants for some time

March 16th, 2012 I am not surprised that Hector Sants, who has been chief executive of the FSA since July 2007 and joined it from Credit Suisse in May 2004, has resigned. He is to remain in post until June 29th to assure a smooth handover as the organisation moves towards its “twin peaks” regulatory model, […]

March 16th, 2012 | Posted in Blog | Read More »

Fallon moves to prevent Hector Sants’s appointment as head of FSA successor body

By Ian Fraser Published: Sunday Herald Date: March 4th, 2012 Hector Sants, current chief executive of the Financial Services Authority (FSA), is not the right man to lead the London-based regulator’s successor body the Prudential Regulatory Authority (PRA), one of the Conservative Party’s chief spokesmen on financial services has declared. “I have deep reservations about […]

March 4th, 2012 | Posted in Article Library | Read More »

FSA’s Hector Sants passes the buck for financial crisis

By Ian Fraser Published: QFINANCE Date: February 14th, 2012 At a hearing of the Treasury Select Committee last month Hector Sants (full video above), chief executive of UK regulator the Financial Services Authority, seemed determined to persuade the MPs that he had done something – anything – to prevent the failure of Royal Bank of Scotland. […]

February 14th, 2012 | Posted in Article Library,Blog | Read More »

Martin Wheatley reveals himself to be no less ‘captured’ than his FSA predecessors

September 28th, 2012 (updated Sept 29th, 2012) In the days after the Libor scandal erupted with the Barclays settlement of June 27th, there was little doubt about it. Banks including Barclays had been systematically engaged in the rigging, and attempts to rig, the Libor interbank rates as well as other aspects of the financial markets […]

September 28th, 2012 | Posted in Blog | Read More »

Rowan Bosworth-Davies | ‘Hector Sants is exactly what’s wrong with the City and its style of regulation’

March 20th, 2012 In this guest post, financial crime consultant and former Scotland Yard detective Rowan Bosworth-Davies, puts his finger on the fundamental flaws in the way in which the financial sector is regulated in the UK. He believes the major issue is a cultural one. If fellow bankers are in charge of the regulator […]

March 21st, 2012 | Posted in Blog | Read More »

‘Now that the FSA chief executive has gone – its chairman should be next’

By Ian Fraser Published: Sunday Herald Date: March 18th, 2012 One of Scotland’s highest-profile investment experts, Alan Steel, has called on Financial Services Authority chairman Lord Turner to “consider his position” following Friday’s surprise resignation of the watchdog’s chief executive, Hector Sants. Sants’s departure followed a Sunday Herald exclusive in which influential Conservative Treasury Select […]

March 20th, 2012 | Posted in Article Library | Read More »

Hector Sants, the Independent and the £5,000 pay-off

By Jim Parton Published: March 16th, 2012 Hector wasn’t a ‘card-carrying nasty bastard’. He was merely bland, writes former colleague Jim Parton ‘I couldn’t see the point of suffering in the City of London if the sums I earned were only mildly revolting, as opposed to completely obscene.’ These were the somewhat amoral opening words […]

March 16th, 2012 | Posted in Article Library | Read More »

If Hector Sants gets the PRA job, it’ll be the ultimate reward for failure

By Ian Fraser Published: QFINANCE Date: February 15th, 2012 The Financial Services Authority‘s chairman Lord Turner made a fairly staunch defense of FSA chief executive Hector Sants at a hearing of the Treasury Select Committee on January 30. But some of the MPs on the committee seemed unconvinced that Sants, who earned £807,000 as FSA chief executive in 2010, is the […]

February 15th, 2012 | Posted in Article Library,Blog | Read More »

The FSA’s cosy deals are a travesty of regulation

By Ian Fraser Published: QFINANCE Date: December 5th, 2011 Ever since its failures as a regulator first became widely apparent with the collapse of Northern Rock in September 2007, the UK’s Financial Services Authority has shown a remarkable lack of enthusiasm for rooting out financial crime, and very little introspection or contrition about its own pre-crisis performance. The reported […]

December 5th, 2011 | Posted in Blog,Latest Articles | Read More »

The FSA/PwC investigation into RBS ‘bad decisions’ is a joke, right?

December 3rd, 2010 (update 3) THE Financial Services Authority’s obsession with “light touch”, laissez-faire regulation in 1997-2008 did more than anything to transform London into the “Wild West” of  finance. US investment banks dramatically built up their presences in the UK capital in the period: they knew they could rely on the FSA to turn […]

December 3rd, 2010 | Posted in Blog | Read More »