The FCA is a child of crisis, says chairman

The Financial Conduct Authority (FCA) was born in the aftermath of a crisis, so that is all it knows, but it has laid the groundwork for making markets work well again, its chairman John Griffith-Jones is expected to say in a speech on Thursday.

The financial services industry must now demonstrate it can conduct itself properly and operate once again under its "own steam", Griffith-Jones (pictured) will say in an address to the CASS Business School in London. "The FCA is a child of crisis," he will say in the speech entitled Regulation in a Recovery. "I have argued this evening that we know how to make the new regime work well from a conduct perspective. But we are the means to the end, not the end in itself." Although the regulator has a different "mindset" than was evident in the past, the need for effective conduct regulat...