Wheatley axed as head of UK regulator

Martin Wheatley, head of the UK FCA, will leave his role in September

Martin Wheatley
Martin Wheatley: leaving FCA

Martin Wheatley, chief executive of the UK's Financial Conduct Authority (FCA), has been ousted from his role.

Wheatley, whose contract had been due to expire in March 2016, will instead leave his post in September, after UK chancellor George Osborne told him his contract would not be renewed, according to media reports.

Osborne said "different leadership is required" for the FCA.

Wheatley has presided over the City watchdog since its formation in 2013, when it was set up alongside the

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