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Broker Talkback

Will the appointment of Hector Sants as chief executive of the FSA make a difference to the regulator’s retail policy?

No 62.5%

Yes 37.5%

“Any change of leadership must result in a change of policy.”

Gavin Whippy, John F Whippy and Company

No

“I don’t know the chap well but I don’t think there will be any changes.”

Nick Teortiou, Westgate Financial Services

No

“They all seem to be rather egotistical and everything is moving towards the banks anyway so I don’t think things will change.”

Richard Brydon, Brydon Associates

Yes

“Sants will bring a different view to the FSA, having come from Credit Suisse. He has experience of being regulated and can bring that insight to the job. He is no civil servant.”

Tony Conner, Eldon Financial Planning

No

“The FSA already has firm views on retail markets and Sants has no particular experience of the retail market.”

David Brunning, Brunning Newman Houghton

Yes

“Unlike Tiner, who had an accountancy background, Sants has industry experience. He should be more in touch with retail markets and IFA practices. Other top dogs in the FSA have not so much as owned a corner shop.”

Raymond Davies, Wetherby Insurance Services

No

“The FSA has a history of over-regulating and trying to fix things that work perfectly well and that probably won’t change. It is an institutional problem. Changing the man at the top won’t necessarily help.”

Graham Carver, York Financial Management

No

“I really don’t know the personalities well enough but I hope so. I don’t think John Tiner was very understanding about the needs of the independent adviser.”

Trevor Rider, FMS Sevenoaks LLP

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