Mortgage News
Tory deputy chair has ‘deep reservations’ about Sants
The deputy chairman of the Conservative Party has expressed concerns about Hector Sants’ proposed appointment as the head of one of the Financial Services Authority’s successor bodies, and hinted at more dissent from fellow Treasury Select Committee (TSC) members.
Sants is the chief executive designate of the Prudential Regulation Authority, which will be responsible for most of the day-to-day supervision of banks, insurers and brokers from next year.
However, Michael Fallon, a member of the TSC and deputy chairman of the Conservative Party, has questioned his suitability for the role, the Sunday Herald reports.
“I have deep reservations about Hector Sants getting the PRA role,” he said.
“It’s fair to say other members of the committee share my reservations about his suitability,” he added.
Sants will appear before the TSC for a ‘pre-appointment’ hearing, although the committee will have no power to prevent him from taking the job.
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In January, Sants told the TSC he never had any ambition to be the chief executive of the FSA and said he had been “persuaded” to apply for the role.