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FCA names Rory Percival replacement

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Rory Percival’s replacement as one of the leading liasons between advisers and the regulator will be Chris Hewitt, Percival has revealed.

Hewitt, a lead associate in the FCA’s investment intermediaries department, worked in financial advice before joining then regulator the Financial Services Authority in 2010 and is level four qualified.

A due diligence specialist, Hewitt has had a hand in a number of thematic reviews around risk profiling, centralised investment propositions, investment advice at banks and RDR compliant adviser charging.

During his time at the FSA, Hewitt encouraged paraplanners to challenge IFAs over suitability reports when they do not give enough weight to client’s specific needs and objectives.

Hewitt, who frequently speaks at adviser and paraplanner events, has also given the message to firms that “size doesn’t matter” when it comes to due diligence.

Technical specialist Percival will set up his own training and consultancy firm next month after ten years with the regulator.

He was previously an IFA before taking up a role as training and compliance officer at Fiona Price & Partners.

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Comments

There are 4 comments at the moment, we would love to hear your opinion too.

  1. Wouldn’t it be wise to have some fresh blood within the ranks of the FCA, and in particular key positions ?

    What we have here then is ex FSA probably always going to do, what he has always done, and coming up with the same results

    Yes looks like he can pass an exam, but where is the practical knowledge ? last time he saw a client was over 6 years ago…… a lot has changed since then, I cant say I am heart broken that Percival has gone, now we have his clone……… Dolly the Sheep, sums up our regulator quite nicely I think !

  2. Level 4 qualified – and that’s good is it? (For a regulator).

  3. I don’t know Chris Hewitt but surely Mark Gould should be doing this role….his Positive Compliance events are the best thing to come out of the regulator in years and he gives a straight answer to a straight question….

  4. Graham….you have taken the words out of my mouth …..I sincerely hope that Mr Gould hasn’t been overlooked for this role but then its the FCA …maybe its because of the straight answers you refer to he isn’t replacing Percival!!!!
    I have seen Gould, Percival and Hewitt all present at PFS seminars in the last year and Mark was the only one to deliver an interesting, useful session and had 200 people in the room engaged

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