FCA unveils changes to its Executive Committee

The UK Financial Conduct Authority has announced the appointment of Stephen Braviner Roman as General Counsel and as a member of its Executive Committee. He will start in February next year.

Roman serves as Director General of Litigation, Justice and Security at Government Legal Department (GLD). His role there is to oversee legal advice given to the Home Office, Ministry of Defence, Ministry of Justice and Department for Culture, Media and Sport.

He was previously responsible for GLD’s advice on the country’s exit from the European Union. He is the GLD Board’s lead on Diversity & Inclusion.

David Scott has stepped in as Interim General Counsel during FCA’s search for someone to fill in the position. Scott will continue to serve part-time during the transition period.

Nikhil Rathi, Chief Executive of the FCA, commented:

Stephen’s extensive experience of advising ministers on such a wide range of legal issues and managing over 1000 lawyers will be invaluable given the scale and variety of the FCA’s remit. I want to thank David for so ably leading the FCA’s legal function on a temporary basis. My colleagues and I have been – and will continue to be over the coming months – grateful for his wise advice.

FCA reports

Stephen Braviner Roman, said:

Stephen Braviner Roman, FCA

Stephen Braviner Roman

I’m delighted to be joining the excellent team at the FCA. This is a crucial period for consumers, financial markets and the FCA and I’m looking forward to starting.

The official announcement also revealed that Megan Butler will step down as Executive Director of Transformation in the spring. She joined FCA from the Bank of England in 2016. Emily Shepperd will step in to lead the regulator’s transformation programme. She will take up the position along with her role as Executive Director of Authorisations.

Rathi added:

Megan has been at the heart of the effort to raise standards in financial services. She was at the forefront of our work to ensure firms’ resilience during the pandemic and her leadership has been invaluable in ensuring the transformation of the FCA – into the innovative, assertive and adaptive regulator we aspire to be – is now well progressed. I have hugely appreciated Megan’s experience and advice since joining the FCA. She will leave with my best wishes and the gratitude of the whole organisation.

Emily has over 20 years’ experience leading significant change initiatives as an executive leader and has made a very positive impact since her arrival at the FCA in March. We welcome her expertise as she takes on a wider remit.

Megan Butler, said:

With transformation now well underway, it is the right time to hand over to Emily and the rest of the talented executive team Nikhil has put together. I will look back at over six years with the regulator with pride. It has been a privilege to work alongside dedicated colleagues determined to shape a better financial services industry. I look forward to watching and supporting that work as it continues.


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