After a review launched earlier this year the DWP has concluded that The Pensions Regulator is “broadly well-run and well-regarded” but has set out a series of recommendations to improve the regulator.

Mark Steward, the Financial Conduct Authority’s executive director of enforcement and market oversight, will leave the regulator next spring.

Only 8% of FCA staff are expected to strike following a ballot of Unite members at the regulator in favour of action, Financial Planning Today understands.

Just before Christmas I suggested that the FCA needed a new direction post-Bailey. It may already have found one although it is clearly not the direction everyone wants.