Nicoll joined the FSA from the Investment Management Association in October 2007 as director of the retail firms division, where she will remain until a replacement is found. Money Marketing revealed last week that Waters would be quitting the RDR to head a new retail conduct risk division.
Nicoll started her career at the London Stock Exchange in 1982, where she worked for 10 years on a range of policy issues. She represented the LSE in the formulation of the the Financial Services Act 1986, the investment services directive and other key European and domestic legislative measures.
In 1992, she joined the Association of Unit Trusts and Investment Funds as director of legal and fiscal affairs and became deputy chief executive of Autif’s successor organisation, the IMA.
She says: “I look forward to the move to retail policy and to tackling the many regulatory challenges in that area.”
Baronworth Investment Services director Colin Jackson says Nicoll is a good choice due to her experience in the investment market. He says: “Sometimes, organisations take on high-powered high-fliers who have no experience in the market. Hopefully, with Nicoll’s background, she will do a good job.”