The Financial Conduct Authority (FCA) has announced that Megan Butler will be joining the FC to take the role of Director of Supervision – Investment, Wholesale and Specialists. Megan is currently Executive Director of International Banks Directorate at the PRA. Megan starts on the 1 September and will be with the FCA for a year.
Megan takes over from Tracey McDermott who will step up to Acting CEO of the FCA on the 12 September following the departure of Martin Wheatley.
Megan joined the Bank of England in April 2013 moving from the Financial Services Authority (FSA). She has been a supervisor since 2008, when she became Head of the Department responsible for the supervision of the UK operations of the major investment banks.
Megan was previously Head of Enforcement Law and Policy at the FSA and chaired the International Organization of Securities Commissions (IOSCO) Standing Committee on Cross Border Cooperation and Enforcement from 2004-2008.
Before moving to the Enforcement Division, Megan 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.
Megan joined the Financial Services Authority in 2000. Before this, she spent several years at the London Stock Exchange in a variety of legal and non-legal roles, including Head of Capital Markets.