Pain to quit post as FSA board member

THE Financial Services Authority has lost another key figure after Jon Pain, managing director of supervision and an FSA board member, decided to leave the organisation next year.

Hector Sants, FSA chief executive, said: "Following the announcement that the FSA will be split in 2012, Jon Pain has decided that there will not be a suitable role for him in the new structure.

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"So, it is with regret that I have to announce that Jon has decided to leave the FSA next year."