Chief Executive of FCA resigns
July 20, 2015
The head of the Financial Conduct Authority Martin Wheatley has resigned as chief executive with effect from September 12, this comes on the back of him reportedly learning that his appointment to the FCA Board would not be renewed by the Treasury, it is a requirement to be a member of the board to hold the post of Chief Executive of FCA.
Chancellor George Osborne said: “Britain needs a tough, strong financial conduct regulator. Martin Wheatley has done a brilliant job of launching the FCA in tough circumstances.” “Now that phase is complete, the government believes that different leadership is required to build on those foundations and take the organisation to the next stage of its development. ”
Tracy McDermott will take over on an interim basis until a replacement is found, Wheatley will continue to act as an adviser to the Board until January 31 2016 with a particular emphasis on the implementation of the Fair and Effective Markets Review, which he co-chaired.
John Griffith-Jones, chairman of the FCA praised Wheatley’s work in leading the FCA over the past four years.
You May Also Enjoy
What it takes to make real estate development financing work
By Daniel Austin, CEO and co-founder at ASK Partners Securing financing for real estate development has become an uphill battle. With interest rates still elevated, inflation pushing construction costs higher, and planning delays introducing further uncertainty, developers face a challenging environment. Traditional lenders, constrained by regulatory pressures and rising risk aversion, have scaled back, creating…
Read More 
Signs Your Roof Needs Professional Repair: Don’t Ignore These Red Flags!
The roof of your home is one of its most vital components. It serves as the first line of defense against the elements, shielding you and your family from rain, snow, wind, and UV rays. A sturdy roof also enhances the energy efficiency of your house, helping to regulate temperature and reduce heating and cooling…
Read More 
Cheap Local Estate Agent
How much is the average estate agency fees in England for 2025? The figure of 1.42% (including VAT) is the average estate agency fee in 2025. This average fee for selling your home can vary with figures between 1% and up to 3.5%, there may be some lower and higher too. How you are looking…
Read More 
The Future of Real Estate: How Technology is Revolutionizing the Industry
It is also evident that the real estate industry is going through a lot of changes mainly due to changes in technology. Technology is changing almost every aspect of the industry and this includes the purchasing, selling, and advertising of properties. Consumers need a more efficient and enhanced form of transactions, real estate professionals must…
Read More 
Halifax House Price Index – Average UK house price falls in March
• House prices fall by -0.5% in March (vs -0.2% in February) • Average property price now £296,699 (compared to £298,274 in previous month) • Annual rate of growth remains at +2.8%, unchanged from February • Northern Ireland sees house prices rise at fastest pace (+6.6%) Amanda Bryden, Head of Mortgages, Halifax, said: “UK house…
Read More 
How to Become an Estate Agent with No Experience
Breaking into the property industry can seem intimidating – especially if you’ve never worked in it before. But the good news? You don’t need years of experience or fancy qualifications to start a career as an estate agent in the UK. In fact, many successful estate agents started with no background in property at all.…
Read More