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Britain's FCA Plans Low-Key Year Ahead After Turmoil at the Top

  • Few initiatives starting this year as agency takes stock
  • Former FCA chief executive Martin Wheatley ousted last year

Britain’s Financial Conduct Authority marked the end of a year of leadership turmoil, promising low-key plans for 2016-17 in an effort to focus on existing regulation.

The U.K. watchdog introduced few new initiatives, as Bank of England Deputy Governor Andrew Bailey prepares to take over the helm. In contrast to last year’s plan, the only new review slated to start in the next 12 months will examine pension governance committees. The FCA also said it will be focusing on how to extend a new approval process for senior managers introduced last month.