The FSA is employing more people from the industry now than it did at its inception in 2001.
The recent appointment of Deloitte & Touche partner Kari Hale as director (finance strategy & risk division) and Hector Sants as managing director (wholesale and institutional markets) from Credit Suisse First Boston in March illustrates the FSA's general willingness and enthusiasm to bring in people from the industry.
Spokesman Rob McIvor says people from the industry are joining the FSA either as employees or on secondments and says there are a lot of FSA staff who are working in the industry on secondments.
The regulator expects to employ staff from the MCCB and the General Insurance Standards Council as the two bodies become defunct with the onset of statutory regulation but says it is still employing more people from the industry than it did four years ago.
McIvor says: “We have lots of people here at the moment from the industry working on projects and our people go out to work in firms as well. We are seeing a steady stream of people coming in from the industry.”