A Song and a Smile as Gay Chases Her 'Little List' of Rogues

Article excerpt

Byline: PATRICK HOSKING

GOT a little list, I've got a little list," chants Gay Huey Evans, echoing the Lord High Executioner in The Mikado.

With dazzling smile and animated gestures, you can see how in her youth she must have jollied up the chorus line in amateur productions of Gilbert and Sullivan back in her native US.

It certainly makes her stand out at the fuddy-duddy Financial Services Authority, where Huey Evans is now jointly the most senior woman, following the gamekeeper-turned-poacher departure of Carol Sargent to one of her erstwhile victims, Lloyds TSB.

Huey Evans, 49, heads the markets division, where she is in charge of everything from supervising investment markets to monitoring more than a million deals a day for evidence of insider dealing and other crookedness.

She may soon be more senior still, having just applied for one of the three top divisional jobs immediately below chief executive John Tiner in the revamped FSA. The deadline for applications for these coveted [pounds sterling]300,000a-year positions was yesterday.

Her "little list", she explains, is of City figures and others who she suspects may be guilty of market abuse of one sort or another. Where she has firm evidence of malpractice by people in positions of trust, she passes on the information to the FSA's enforcement division. The rogue rate is running at more than one a month, she reveals.

She gives a private warning to smaller fry, or bigger fish where the evidence is too flimsy, a policy which she believes helps keep them on the straight and narrow.

It's an approach that is desperately needed because the FSA has yet to claim a single insider dealing scalp. Despite repeated leaks out of Canary Wharf that a flood of successful cases is imminent, nothing is very likely this side of Christmas, she admits.

That's despite an increase in the volume of questionable practices. …