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FSA is to become involved in banking recruitment

The FSA (Financial Services Authority) has announced plans to become more involved in banking recruitment at the top of the UK banking sector. In simple terms the FSA will be adopting far tougher standards with regards to top supervisory roles in the UK banking sector to ensure that the calibre of recruits is of the very highest level.

This is just one more step in the ongoing FSA plan to take a tighter control of the UK financial sector and attempt to ensure that we do not go down the path we saw two years ago when the financial sector pulled the worldwide economy into recession. Whether this particular announcement is more for public perception, than reality, is open to debate because ultimately there is still something of an "old gentleman's club" in the city.

Ironically if the Conservative party is voted into power at the next general election we may not even see the majority of FSA changes introduced into the marketplace because the regulator may well be closed down. It is well-known that the Conservative party would rather see the Bank of England take overall control of the UK regulatory environment in some shape or form.

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