Panel reaction to Martin Wheatley's departure

20 July 2015

The Panel notes with regret the departure of Martin Wheatley. It is profoundly disturbing that the Treasury is using this to send a signal to the banks that the days of ‘intrusive’ regulation are over. The FCA is an independent regulator and the Government should allow it to do the job Parliament intended it to do. Martin has taken a bold pro-consumer stance on many issues. We hope the Board will urge the Treasury to appoint a successor CEO who will equally visibly put consumers at the heart of regulation.