FSA staff jump ship as break-up nears

The Financial Services Authority is losing an increasing number of employees as the City regulator moves closer to being broken up by the Government. In the first five months of this financial year, 202 members of staff left the watchdog, a 26 per cent increase on the same period a year earlier, according to figures supplied by the FSA.

In April, 54 people quit after they were paid their annual bonuses, up from 36 the year before, when the City jobs market was booming.

More employees are leaving the market regulator as it prepares to be split in two by early 2013, when the supervisory arm will move to the Bank of England and a separate financial conduct agency will be established.