Recommendation 124

Notably, both Aon and ClearBank connected the frequent rotation of supervisors to wider concerns regarding staff retention, particularly at the FCA. Ashley Alder, Chair of the FCA, accepted that staff turnover at the FCA had previously posed a challenge to the consistency of supervision firms received: “One of the issues was the very high level of turnover within the organisation and a programme to grow it and recruit. … When I was interacting with firms at that time—it was 2023—they tended to say that, because of that, they were seeing a degree of churn around which supervisors were allocated to them.” 200