John Tiner To Step Down As Chief Executive Of The FSA

As set out in FSA press notice FSA/PN/005/2007, John Tiner has announced his intention to step down as Chief Executive of the FSA, in July 2007.

Commenting on the announcement, Economic Secretary to the Treasury, Ed Balls said:

"John has been an excellent Chief Executive during a time of considerable change at the Financial Services Authority. He has helped to build an organisation that is now regarded as a model for the rest of the world. John has driven forward the FSA's globally renowned principles and risk based regulatory approach, and his personal commitment to improving financial capability will continue to be invaluable over the next few months and will pay dividends well beyond the financial services industry. I am confident that his successor will benefit from the foundations he has laid for a continuing strong relationship between the Treasury, our financial services industry, and the FSA."

Background

John Tiner's resignation was announced by the FSA this morning, see
http://www.fsa.gov.uk/pages/Library/Communication/PR/index.shtml
In due course a new Chief Executive will be appointed in accordance with FSMA regulations.