Industry questions 'unusual' departure of Charles Randell from FCA

Staff morale low at FCA

Charles Randell’s departure from his role as chair of the Financial Conduct Authority a year before his term is due to expire has been met with confusion and frustration across the industry.

Simon Morris, a financial services partner with CMS, described the lack of a "customary second term" as "surprising" and questioned whether it had been either declined or simply not offered. Charles Randell steps down as chair of the FCA before term ends "The FCA is giving no clues, but this unusual situation suggests that either Mr Randell is disenchanted with the FCA's current direction or, perhaps more likely, is stepping down as an acknowledgement of the chair's responsibility over the FCA's failures in regulating London Capital," he added. Failures of the FCA featured in a lar...