In taking the initiative to introduce a separate regulatory structure for the electronic payments industry which will be independent of the mainstream non-bank financial services market oversight, Britain’s Financial Conduct Authority (FCA) has been gradually fortifying the new entity.
Today, the FCA has announced that the Payment Systems Regulator (PSR) has appointed three new senior executives to its team.
Carole Begent has joined as head of legal. Carole joins from the Competition and Markets Authority (CMA) where she is Senior Legal Director – Mergers, Markets and Sector Regulation. She will start her new role on 1 April 2015.
Mark Falcon has been appointed head of regulatory policy and strategy. Mark joins from Hutchison 3G UK (Three) where he is head of economic regulation. He will start his new role on 2 March 2015.
Louise Buckley assumes the post of head of stakeholder engagement and communications. Louise joins from Stracey Wheeler Consulting Ltd where she is a director and senior communications consultant, most recently working with Ofqual, the UK’s qualifications, examinations, and assessments regulator. She will start her new role on 26 January 2015.
Hannah Nixon, the Payment Systems Regulator’s managing director who was recruited in May 2014 from energy sector regulator Ofgem, commenting on the appointments, said: “Carole, Mark and Louise bring with them a wealth of experience that will be invaluable in helping deliver our objectives of promoting competition and innovation in payment systems, and ensuring the interests of service users are always at heart. I am delighted to have secured their services at this crucial time.
“We have accomplished much since we were incorporated last year, not least our November consultation paper that set out a comprehensive road map for regulation. Our focus is now on finalising our approach then delivering it as we go live in April. Carole, Mark, and Louise will play vital roles in driving forward this agenda” concluded Ms. Nixon.
For the official announcement from the FCA, click here.