FCA's investigations hire sign of change

Author: Lizzie Meager | Published: 19 Sep 2016

The UK’s Financial Conduct Authority’s (FCA) latest hire of an ex-FBI official is a signal of the direction the regulator will take going forward.

Michael Welch, previously head of international operations at the FBI, and more recently director of Standard Chartered’s internal investigations unit was appointed director of retail and regulatory investigations in August.

"Hiring someone with links to the US certainly won’t be unhelpful," said Dorian Drew, partner at Clifford Chance. "I do think him being ex-FBI will give the FCA the opportunity to learn about alternative investigative techniques."

And Peter Wright, a partner at Fox Williams in London, thinks this is a sign of more high-profile cross-border market misconduct cases...