Niall Hearty of Rahman Ravelli outlines the Financial Conduct Authority's plans and the reasoning behind them
The UK's Financial Conduct Authority ( FCA) is to create bases in the United States and the Asia-Pacific region for the first time.
The new US operation will be led by Tash Miah, who has been with the FCA for three years and has worked in its international division. She will work closely with the UK's Department for Business and Trade to boost UK-US financial services policy and regulatory co-operation and will also help financial firms in the US navigate UK regulations.
Camille Blackburn, who is currently an FCA director responsible for asset management supervision, is set to become the FCA's Director – Asia-Pacific. She will establish an office in Australia in July. Her new role will involve helping financial services firms navigate regulation when entering the UK market or raising capital and she will support UK firms that are expanding into the Asia-Pacific region.
FCA Executive Director Sarah Pritchard said: "The UK is a global hub for financial services. We are committed to continuing to build our global network and international reputation."
"These appointments will help us deliver on our mission to support growth through the export of UK financial services and attracting more inward investment to our shores. We recognise that major international investors want easier access to us, and having a presence in these key regions will help achieve that."
In a letter to UK Prime Minister Keir Starmer, the FCA said that improving exports and inward investment is one of its key growth commitments.
This move by the FCA into such key regions is in accordance with its expansion strategy for the period 2025-2030. It will help major international investors navigate the UK financial markets with more ease. This, in turn, could bring greater investment to the UK, while also boosting the FCA's global reputation.
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