FCA appoints new supervision director

FCA appoints new supervision director

Megan Butler will be joining the Financial Conduct Authority on secondment from the Prudential Regulation Authority, becoming director of supervision for investment, wholesale and specialists.

She is currently executive director of the international banks directorate at the PRA and will start her new role for a year’s term on 1 September.

Ms Butler takes over from Tracey McDermott, who will step up to acting chief executive of the FCA on 12 September, following the departure of Martin Wheatley.

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The move is effectively a re-joining, as she joined the Bank of England in April 2013 from the Financial Services Authority, having been a supervisor since 2008 and then head of the department responsible for the supervision of the major UK investment banks.

Prior to moving to supervision, Ms Butler was head of enforcement law and policy at the FSA and chaired the International Organisation of Securities Commissions standing committee on cross border cooperation and enforcement from 2004-2008.

Before moving to the enforcement division, she 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.

Ms Butler joined the FSA in 2000, having spent several years at the London Stock Exchange in a variety of legal and non-legal roles, including head of capital markets.