Managers at the Financial Conduct Authority are preparing to hold a series of meetings on how they can head off falling morale, after an internal survey blasted leadership failures at the watchdog.

The results of a staff poll released on 21 July showed widespread lack of confidence in the regulator's executive committee, highlighting weaknesses in communication and strategy as an overhaul to pay and conditions alongside a modernisation project led by chief executive Nikhil Rathi continue to ruffle feathers.