The Financial Services Culture Board (FSCB) - a body aiming to improve the standards and culture of the financial services sector - is to close after eight years due to finances drying up.

FCA CEO Nikhil Rathi says the FCA will apply "additional scrutiny" to authorisation applications from appointed representatives, approved persons and payment agents.

The FCA has appointed Home Office director Ruairi O’Connell to be its new director of international as it continues its recruitment drive.

The number of full-time employees at the Financial Conduct Authority fell by 4% to 3,791 in the 2021/22 financial year.