Second UK FSA managing director quits

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The UK's Financial Services Authority (FSA) on Tuesday announced the second departure of a senior official this month as the regulator's prudential regulation function prepares to return to the Bank of England.

Jon Pain, the managing director for banking supervision, will leave next year having "decided that there will not be a suitable role for him in the new structure," said Hector Sants, the FSA's chief executive. Sants added that Pain, who is also a board member at the FSA, had "been at the

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