Sunday, January 10, 2010

FT.com / US / Economy & Fed - US regulators scrutinise banks’ top personnel

FT.com / US / Economy & Fed - US regulators scrutinise banks’ top personnel: "US practice still stops well short of the formal appointments process in the UK, where the Financial Services Authority interviews and must approve people with “significant influence”, such as directors and the top jobs at all regulated financial services companies. The FSA warned the companies last year that it expected to be far more involved in the selection process and would often insist on interviewing would-be appointments."
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Following the appointment of two former Which? personnel to senior positions at the FSA do you think it would be wise to have a 'formal appointments process' at the regulator?

We need regulatory balance, I see none.

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