Results tagged “Financial Services Authority”

The Financial Services Authority is asking for over £450million to carry out its supervisory duties for the next year.

The Wharf-based regulator wants £454.7million to pay for its more "intensive and intrusive supervision of businesses. It represents a 9.9 per cent increase on last year's figure of £413.8million.

Hector Sants is to leave his job as chief executive of the Financial Services Authority in the summer.

The Wharf-based financial watchdog announced today that Mr Sants will step down after three years in the job, a period which has seen increasing criticism of the FSA's regulatory role, particularly when the credit crunch hit the banking sector in 2008.

A year after the Lehman Brothers collapse credit crunch victims turned up at Canary Wharf to remind everyone of the impact of the bank's failure.

The group - numbering about 20 - were from action group Spirit, campaigning for the millions of pounds independent investors lost following the bank's bankruptcy on September 15 last year.

The Financial Services Authority defended its role as a watchdog when its top brass faced the public this morning.

Lord Turner and Hector Sants, respectively chairman and chief executive of the Wharf-based regulator, were bullish about past performance and the FSA's future at the annual public meeting in the City.

The Financial Services Authority has defended its performance last year in its newly published annual report.

The Canary Wharf-based financial regulator endured a torrid time in 2008 with the onset of recession and the near-collapse of the banking system.

The Financial Services Authority beat six companies to claim a major prize this month.

The company based at The North Colonnade fought off groups including BBC News and the Welsh Assembly to win best public sector work placement at this year's National Council for Work Experience Awards.

THE BONUS culture should be curbed according to the boss of HSBC.

The bank's chairman Stephen Green has thrown his weight behind the Financial Services Authority's campaign to stop the rewarding of short term gains.

Mr Green said: "There is now a growing demand, even within the industry, let alone beyond it, for an approach to compensation which is more responsible."

CHRISTIAN praise was heaped on staff at the Financial Services Authority for their work at a mission.

The Canary Wharf workers renovated a garden and painted outdoor areas to create a haven for users of the centre, which is connected to Deptford Methodist Church.