NEW City regulator the Financial Conduct Authority will step in early to "pre-empt and prevent" harm, its chief executive designate has vowed, as the industry tries to recover from recent scandals.
Martin Wheatley said there will be a "new culture" at the FCA, which will be launched next year to replace the Financial Services Authority.
The launch document for the FCA highlighted the problems regulators have in keeping staff beyond four or five years and being seen as "an industry training ground". But it avoided the topic of whether the body should seek to compete with City salaries to retain staff.
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