The Financial Services Practitioner Panel's chairman, Roy Leighton, has responded to the departure of John Tiner as chief executive of the FSA.
Leighton said: "The Panel is sorry to learn of John's decision to move on from the FSA. While it is inevitable that practitioners and the FSA will not always be in wild agreement on issues relating to regulatory policy and application, on a personal level, we have always found John to be measured and pragmatic in his approach, open-minded and receptive towards our views, and candid and good-humoured in his dealings with us — these are all qualities that made John a breath a fresh air, and which the Panel very much welcomed.
"There are important times ahead for the FSA - it has recently embarked on a major initiative to streamline its operation, upgrade the quality of its staff and improve its overall effectiveness as the UK's single financial services regulator. John was also particularly strong on IT and people management aspects.
“These are all areas that our recent survey identified as priorities for development, and on which we and the FSA jointly expect to see significant progress in 2007/8. In that context, we will watch with interest the process to select and appoint a successor. It is crucial - and fundamental to the industry's future view of the FSA's performance - that that person has the necessary determination and drive to take forward the good work that John has started."
Tiner announced his decision to step down from the regulator this morning, with effect from July 2007.
