Since her appointment as director of conduct policy in 2009, she has steered the FSA’s changing conduct agenda, laying the foundations for the new conduct strategy that helped inform the thinking for how the FCA plans to operate, the FSA said.
She has delivered some of the FSA’s flagship policy work, in particular the Retail Distribution Review, Mortgage Market Review and the funding review of the Financial Services Compensation Scheme.
Sheila joined the FSA from the Investment Management Association in October 2007. 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, 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 handover 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.”
