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Thursday, December 1, 2022

High-ranking crime fighter to join UK’s FCA as payments and digital assets director

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UK regulator the Financial Conduct Authority (FCA) has recruited nearly 500 extra workers members this yr as a part of its new three-year strategy. Among the brand new hires are six administrators, whose appointments had been announced July 5. Two of them come from backgrounds in policing.

Director of payments and digital assets is newly created place that may oversee the e-money, fee and crypto-asset markets and associated coverage improvement. Matthew Long was appointed to that submit, shifting over from the National Crime Agency, the place he’s now a director within the National Economic Crime Command. Long has additionally led the UK Financial Intelligence Unit. He started his profession as a detective within the Kent Police and holds a PhD in threat administration. Long will begin in his new position in October.

In September, Karen Baxter will assist FCA enforcement and market oversight actions when she joins the FCA as director of technique, coverage, worldwide and intelligence. She was a commander and nationwide coordinator for financial crime within the City of London Police. She can also be is an Office of Communications board member for Northern Ireland.

Two interim administrators will obtain everlasting appointments, and new administrators of shopper finance and wholesale buy-side have additionally been appointed.

Related: Former Chancellor says UK is falling behind on crypto opportunity

The agency’s new strategy seeks to be extra progressive, assertive and adaptive, and to:

“proactively shape the digitalization of financial services through developing our regulatory approaches to digital markets.”

On digital markets, the technique addressed competitors amongst key digital companies and the dangers and advantages Big Tech will deliver to the sector. It will look at the position of synthetic intelligence in finance and will lead investigations “informed by behavioural economics to test digital consumer journeys.”