The FSA has been forced to admit it lost dozens of staff in the third quarter alone, after Lord Myners questioned the Treasury about a flurry of recent exits from the regulator.
Labour Lord Myners asked the government how many FSA employees resigned in the three months to the end of October, according to official records. In a response dated 25 November, Tory Lord Sassoon, commercial secretary to the Treasury, produced a table showing the regulator received 96 resignations from staff in the period. Voluntary exits for August were 35, with 27 leaving in September and a further 34 last month. The FSA's annual staff turnover as at the end of October was 9.5%, because in that month 77 people accepted jobs with the FSA. "The management and board of the FSA c...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes