The Financial Conduct Authority (FCA) today announced that Megan Butler will be joining the FCA on secondment from the Prudential Regulation Authority (PRA) to take the role of Director of Supervision – Investment, Wholesale and Specialist.
Megan is currently Executive Director of International Banks Directorate at the PRA. Megan starts on the 1 September and will be with the FCA for a year.
Megan takes over from Tracey McDermott who will step up to Acting CEO of the FCA on the 12 September following the departure of Martin Wheatley.
Commenting on the appointment Martin Wheatley said:
"I am delighted that Megan has decided to join the FCA. She brings with her a wealth of experience and an excellent reputation in wholesale markets and will be a valuable addition to the executive team."
Megan joined the Bank of England in April 2013 moving from the Financial Services Authority (FSA). She has been a supervisor since 2008, when she became Head of the Department responsible for the supervision of the UK operations of the major investment banks.
Prior to moving to supervision, Megan was Head of Enforcement Law and Policy at the FSA and chaired the International Organization of Securities Commissions (IOSCO) Standing Committee on Cross Border Cooperation and Enforcement from 2004-2008.
Before moving to the Enforcement Division, Megan was Chief Counsel for Markets, heading the legal team responsible for advising on legal issues relating to Official Listing, the regulation of exchanges and clearing houses, market conduct and the supervision of wholesale firms.
Megan joined the Financial Services Authority in 2000. Before this, she spent several years at the London Stock Exchange in a variety of legal and non-legal roles, including Head of Capital Markets.
Megan is a Barrister, called to the bar in 1987.
Notes to editors
- On 1 April 2013, the FCA became responsible for the conduct supervision of all regulated financial firms and the prudential supervision of those not supervised by the Prudential Regulation Authority (PRA). On 1 April 2014, the FCA took over responsibility for consumer credit regulation.
- The FCA has an overarching strategic objective of ensuring the relevant markets function well. To support this it has three operational objectives: to secure an appropriate degree of protection for consumers; to protect and enhance the integrity of the UK financial system; and to promote effective competition in the interests of consumers.
- Find out more information about the FCA[1].