Wheatley: Hardline stance will be FCA's legacy

clock • 2 min read

Martin Wheatley, the chief executive of the Financial Conduct Authority (FCA), has said he wants the regulator's legacy to reflect it ensured wrongdoers "faced the full consequences" of their actions.

Speaking at a Treasury Committee hearing on Tuesday, Wheatley said he wants the regulator to be seen as tough and, in a clear warning to the City, said it would continue to dish out heavy fines for misconduct. This is despite remarks from FCA chairman John Griffith-Jones, who said he does not want the organisation to be measured by the size of the fines it levies. The FCA handed out fines worth more than £400m last year. Wheatley (pictured) said: "Where there is clear misconduct, we want [offenders] to face the full consequences, and yes we do want that to be a legacy." In March...

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