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Martin Wheatley Resigns as FCA Chief Executive

Joe Mont | July 17, 2015

The Financial Conduct Authority, the top regulator for financial firms in the United Kingdom, has announced that Martin Wheatley, its chief executive, will leave his post in September. Wheatley will continue to act as an adviser to the FCA Board until Jan. 31, 2016.

In 2013, Wheatley, former managing director of the now-defunct Financial Services Authority’s Conduct Business Unit, was selected to head the soon-to-be created FCA. His tenure at the new agency was marked by both big money enforcement actions and internal strife. The latter reportedly contributed to his departure.  

In a statement, Finance Minister George Osborne said that Wheatley had done “an outstanding job…setting up and leading the FCA over the last four years.” Nevertheless, in separate comments, Osborne expressed...

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