The FSA's Numbers Dwindle

Following the announcement that Mark Norris departed the FSA at the beginning of July, a further two senior FSA staff have handed in their resignation.

Since the coalition government announced plans to hand over regulatory power to the Bank of England, the FSA's future has looked bleak. The two new resignations are Jon Pain (FSA Board Member and Managing Director of Supervision) and Tony Brooke-Taylor (Head of Wholesale Insurance Firms).

With the former leaving in 2011 (because there will be "no suitable role for him in the new structure") and the latter to leave in early July, it is looking as though there will be very few of the old guard to help continue the work of the FSA when the power is handed over. Evidently this will affect the FSA, however with the regulator continuing to recruit it will be interesting to see just exactly how it will alter this.

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