How will history judge Martin Wheatley after he stands down from the FCA? Realistically, history will not even remember him. It barely remembers any of his predecessors at the variety of regulators since the Financial Services Act came into force in 1986.
To some extent, the role of the regulator is like that of a football referee. If you notice them too much they have probably been a little officious and not allowed the game to flow. On that basis, how would you score Wheatley? Probably quite well. He has more than tinkered with the 'game' – everything from the Retail Distribution Review to inducements and a number of 'Dear CEO letters' mean most people know his name. But while our part of the financial services industry might grumble about these areas, think how the pay day loans sector must feel, or the high street banks. If his leg...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
