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

In Article Library by Ian Fraser3 Comments

By Ian Fraser Published: Sunday Herald Date: 18 March 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 …

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

In Article Library by Ian Fraser0 Comments

By Ian Fraser Published: QFINANCE Date: 15 February 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 …

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The FSA’s cosy deals are a travesty of regulation

In Article Library by Ian Fraser1 Comment

By Ian Fraser Published: QFINANCE Date: 5 December 2011 Ever since its failures as a regulator were revealed by 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 …

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Is the FSA be getting serious about HBOS wrongdoing?

In Blog by Ian Fraser2 Comments

23 February 2010 Jo Dawson and Dan Watkins, the two senior executives who resigned from Lloyds Banking Group on February 5th 2010, were apparently forced out after the FSA told them that, unless they made themselves scarce, it intended to strip them of their “approved person status”. Or so rumour …

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Sants is leaving a sinking ship

In Blog by Ian Fraser1 Comment

9 February 2010 This morning’s shock resignation of FSA chief executive Hector Sants leaves plenty of unanswered questions in its wake. Sants can hardly be considered blameless where the banking and financial crisis is concerned. From 2004 to 2007 he was the FSA’s managing director of  wholesale and institutional markets, …

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What the HBOS fraud tells us about the state of British banking

In Blog by Ian Fraser

8 February 2017 The £1 billion HBOS Reading fraud, my part in exposing it, and what it tells us about the state of British banking   Note: This is a fully revised, updated and extended version of ‘Mafioso bankers and my part in their downfall‘ published in the Sunday Herald on 5 …