Acting FSA Chief Executive announced

The FSA Board has agreed that until the newly appointed Chief Executive (Catherine Brown) starts on 16 October, Professor Charles Milne, Director of FSA Scotland, will be acting Chief Executive and Accounting Officer. This will take effect from 5pm, Wednesday 22 August.

Tim Smith has informed the Board that he has secured a new role in the private sector. He has agreed to step back from his responsibilities as FSA Chief Executive to avoid any perceptions of conflict of interest. In accordance with normal procedures for Senior Civil Servants, Tim’s new post has to be considered by the independent Advisory Committee on Business Appointments.