FSA investment policy head Peter Smith quits for Dubai regulator
FSA head of investment policy Peter Smith is leaving the regulator in June to become director of policy at the Dubai regulator.
Smith joined the FSA at its inception from the Building Societies Commission.
He has led the regulator’s clampdown on the marketing of traded life settlement products to retail clients, including marketing within the context of financial advice.
Last month, Smith warned the growing traded life policy investments retail market poses a “significant” threat to consumers and said TLPIs and unregulated collective investment schemes should not generally be marketed to retail investors in the UK.
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Readers' comments (21)
We all know the reason - "collective irresponisbility"
Another person leaving the sinking ship.
Another one bites the dust
Dubai!
I wonder how tough he will be with the charlatans posing as Financial advisers and Wealth managers who operate from Dubai.
My guess is they will continue to get away with the lack of compliance and regulation that made them leave the UK for the Middle east.
Gis a job I couldn't do any worse!!
Just goes to show how little I know about the internal staffing of the regulator, never even knew he did anything useful. Still, not many of them do!
Dubai ? not far enough in my view !!
I suppose there is nothing here left to regulate, job losses, know one will be able to get PI, RDR will suffocate whats left, oh and nearly forgot ! levies will bleed us dry.
Hope he has got PPI in case he falls of his camel.
Hope Woodall goes with too !!
Hmmm
There isn;t going to be anyone left to hold to account pretty soon.
Typical.
You couldnt make it up - the man driving the RDR quits before the proverbial hits the fan for a tax free income in Dubai.
This is the stuff of farce and nonsense - it would be funny in any other walk of life. Clearly he believed in what he was doing at the FSA any principled person would have seen it through
Isnt it amazing that the architects of the RDR are all jumping ship now that they see just what a complete mess this is going to be and they will be long gone beofre the rest of us try to pick up the pieces. That of course leaves the way clear for their replacements to say "Sorry gov but that all happened before I joined so it didnt happen on my watch". These people are the scurge of the earth. God Help Dubai's Financial Services. Mind you someone has to think theses people are worth head hunting.