View more on these topics

Regulator would like the power to tap telephones, says Wheatley

FCA chief executive Martin Wheatley has suggested the regulator should be given powers to use surveillance and wire tapping in its investigations.

In a Treasury select committee hearing last week, Wheatley was asked by Labour MP John Mann if there were any powers the regulator wanted that Parliament has not yet given it.

Wheatley said: “There are certain areas which are not part of the UK regime that are part of the US regime, such as the use of wire tapping and covert intelligence to obtain evidence.

“Now that is a big question but is something we don’t have as part of the UK structure.” 

Wheatley added: “If we had that, we would probably have a slightly different approach to insider training, as the [Securities and Exchange Commission] does in the US.”




Cover story: Mutual attraction

Skipton Building Society head of intermediary sales Paul Darwin, who has spent his entire career in the mutual sector, says the industry needs to work on lines of communication between lenders and brokers 


Media Spotlight: The Smartest Guys In The Room – Bethany McLean & Peter Elkind

  Since the summer of 2001, Enron has become almost a byword for greed, corporate mismanagement and tragic human failure. At one stage it was listed as the world’s leading energy company – a fact it proudly boasted about. This led the firm to believe it could be the “world’s leading company”. However, thanks almost […]


Analysis: A solid mid-year lending report

The lending arena continues to progress at a steady pace as half-yearly data is posted. Despite some pre- and post-MMR doom-mongers, lenders have quietly gone about their business offering increasingly attractive deals to credit-worthy borrowers.  In part, this led to the Council of Mortgage Lenders’ recent revision of its 2014 gross lending forecast to more […]


News and expert analysis straight to your inbox

Sign up