What does the industry want from new FCA chief?

The appointment of Bank of England veteran Andrew Bailey to the top job at the Financial Conduct Authority (FCA) has ended months of speculation and false leads.

Bailey, deputy governor for prudential regulation at the Bank of England and CEO of the Prudential Regulation Authority, will replace interim Tracey McDermott and is expected to take up his new role in July. Rather than opt for the lesser known prospect of an overseas incumbent, the Treasury played it safe with a respected candidate well used to operating within the UK's regulatory and political  framework. This approach appears the correct one to have taken during a tricky period in the evolution of the new regulator, set against a backdrop of macro-economic gloom and the destabilisi...