FCA strengthens enforcement and risk team

FCA strengthens enforcement and risk team

The Financial Conduct Authority has appointed Mark Steward as its director of enforcement and market oversight and Barbara Frohn as director of risk and compliance oversight.

Mr Steward is currently the head of enforcement at the Hong Kong Securities and Futures Commission, while Ms Frohn is the managing director of Banco Santander and currently on secondment to the Institute of International Finance in Washington.

Both Mr Steward and Ms Frohn will be expected to take up their new roles in London during the early autumn.

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The regulator said that Mr Steward’s role brings together the organisation’s enforcement function with a new market oversight division, which was created by incorporating the UKLA and market monitoring functions.

The new risk and compliance oversight division is designed to provide a strategic approach to the management of internal and external risk and a direct link between the risk function and the chief executive for the first time.

Alongside this, the FCA also confirmed the details of three recent key director appointments. Marc Teasdale has been named director of market oversight within the enforcement and market oversight division, Jo Hill has been appointed as director for markets intelligence, data and analysis and Andrew Whyte is the new director of communications within the strategy and competition division.

The FCA said that the new appointments represent the next stage of the implementation of its new strategic approach and new leadership structure, which was announced last December.

Martin Wheatley, the regulator’s chief executive, said: “These are two vital roles within the UK regulatory system and it says a lot about the FCA that we have been able to attract such high calibre candidates to fill them.

“While the FCA has been able to attract some of the best people from outside, we also have highly talented, hard-working people within the organisation and Marc Teasdale, Jo Hill and Andrew Whyte will be taking on roles that will be vital to the organisation successfully delivering its objectives and priorities for the years ahead.”