FCA appoints Steve Smart and Therese Chambers to co-lead enforcement and market oversight

Chambers commented:

The work of the Enforcement and Market Oversight division is of critical importance in supporting the FCA’s Strategy and we will continue to build out our assertive and proactive approach. I look forward to working with colleagues on ExCo and across the FCA as we increasingly use our powers to protect consumers and tackle harm.

Steve Smart, on the other hand, joins the FCA from the National Crime Agency (NCA), where he served on the Executive Committee as the Intelligence Director, responsible for overseeing a team of over 2000 individuals. He also has experience in the private sector, where he led the establishment of a unified intelligence and investigations unit within a major banking conglomerate.

Smart added:

I’m really excited to be joining the FCA. It is a great opportunity to put my experience of leading and developing proactive operational functions and working with partners in the police, wider law enforcement and counterparts overseas to help the FCA to continue to prevent serious harm; set higher standards; and promote competition.

The newly appointed Executive Directors, Therese Chambers and Steve Smart, offer a comprehensive approach to the FCA’s operations, bringing together Chambers’ extensive knowledge in regulation, supervision, and law with Smart’s expertise in criminal enforcement, investigation, security, and intelligence.

The FCA has also announced the consolidation of its legal department under the leadership of the current General Counsel, Stephen Braviner-Roman. This move will merge the General Counsel Division with the legal group currently housed within the Enforcement and Market Oversight division, creating a cohesive legal entity that will work collaboratively across the organization.

After Mark Steward’s departure, Sarah Pritchard will assume executive responsibility for the FCA’s international efforts, in addition to her current role as Executive Director of Markets within the Supervision, Policy, and Competition Division. the international rulebook.

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