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FCA cracks down on ‘directors for hire’
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fnlondon.comThe City watchdog is cracking down on part-time executives taking up senior roles, as strict new vetting continues to delay new business launches and mergers.
New firms that wish to operate in the financial services sector need the Financial Conduct Authority's approval, a process that includes scrutiny of ‘significant-influence functions’ — roles that include chief executives, executive directors, compliance officers, and money-laundering officers.
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