Sheila Nicoll, former director of conduct policy at the then FSA, has joined Ernst & Young’s Asset Management practice as a senior adviser.
Ms Nicoll, who has worked in the financial services policy arena since 1982, had led work at the FSA on issues such as the RDR and the implemenation of the Alternative Investment Fund Managers Directive.
Before joining the FSA, she was deputy chief executive of the Investment Management Association.
In 2009-2010, the FSA had commissioned E&Y to conduct the wide-ranging impact report assessing the RDR’s effect on the industry.
She appears to be following in the footsteps of other senior FSA colleagues who have gone into consulting firms - firms often used by the then FSA and now by the FCA to conduct reviews.
Last year, Margaret Cole, who was the first managing director of the FSA conduct business unit, a board member and previously managing director of enforcement and financial crime, announced her resignation from the FSA in February 2012.
She left at the end of March to join PwC as a member of its UK executive board with responsibility for the office of general counsel.
Her exit had been widely expected after Martin Wheatley was announced as the chief executive of the FCA.
In July 2011, Jon Pain, former managing director of the FSA, joined consultancy firm KPMG to become a partner in KPMG’s financial services regulatory centre.
