Top financial firms will be subject to a vetting process by the Financial Services Authority when it comes to choosing senior executives, not after the selection has already been made, the watchdog has said. A letter written by the FSA has been sent to the chief executives of 5,000 financial institutions telling them that the watchdog will 'undertake a close vetting of appointments and will expect to interview candidates'. Under the new regime, finance directors will be among those interviewed as part of the process. Since 2008, the FSA has interviewed 172 candidates. Graeme Ashley-Fenn, FSA director of permissions, decisions and reporting, said: 'The onus is on firms to ensure candidates applying for influential positions are fit and proper to perform the role. 'Our individually tailored approval interviews will help us assess whether the individual has the right experience and understanding but also whether they will enhance the overall management strength and insight of the firm.'