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RDR architect Sheila Nicoll to leave FSA

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RDR architect Sheila Nicoll to leave FSA

Sheila Nicoll,director of policy at the Financial Services Authority (FSA), is to leave the regulator in April of this year.

Nicoll (pictured), a key driving force behind the Retail Distribution Review, has announced her decision to leave the organisation when it transitions to the Financial Conduct Authority (FCA) in April of this year.

Having joined the regulator back in 2009 as director of conduct policy, FSA was keen to stress that she has steered their changing conduct agenda, laying the foundations for the new conduct strategy that helped inform the thinking for how the FCA plans to operate. She has also delivered some of the FSA's flagship policy work, in particular the Retail Distribution Review, alongside the funding review of the Financial Services Compensation Scheme. 

Sheila joined the FSA from the Investment Management Association in October 2007, where she was director of retail firms division for two years, supervising building societies, life insurers, general insurers and intermediaries during the financial crisis.

Commenting on her decision to leave, Nicoll said: 'I have spent five challenging but fascinating years at the FSA, through what has arguably been one of the most dramatic periods of change the financial services industry has known. I have worked with a truly professional team and strongly believe that some of the policies we have implemented will create lasting benefit for consumers.

'Having seen major policy initiatives such as the RDR through to implementation, I feel now is the right time for me to hand over to those who will drive the FCA's policy approach in the future. I will stay with the FSA until the changeover to ensure an orderly handover and then will explore fresh opportunities. I wish the FCA and its staff every success in driving forward the FCA’s objectives of ensuring a fair deal for consumers.'

Martin Wheatley added: 'I would like to thank Sheila sincerely for the contribution she has made to the foundation of the FCA and for the delivery of complex initiatives such as the RDR and Mortgage Market Review. On behalf of my executive team, I wish Sheila all the best.'

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