The Financial Conduct Authority (FCA) is expanding its global operations by establishing new offices in both the United States and Australia.
In a first for the UK’s main market regulator, the Financial Conduct Authority (FCA) has unveiled plans to expand its operations overseas. The FCA is establishing a regional presence in both North America and Asia-Pacific (APAC), with new offices based in the US and Australia.
As part of the recently announced FCA five-year plan for strategic growth, the UK watchdog is set to broaden its international division in year one. The move comes amid increased government on national agencies to promote greater economic freedom by cutting back on red tape.
Where are the new FCA offices?
There will be two offices, located in the US and Australia. The US office will operate out of the British Embassy in Washington, DC, situated in a large compound comprising the British ambassador’s residence and the old and new chanceries.
Meanwhile, the FCA has not disclosed the location of the proposed new office in Australia as of yet. It could be based in the capital city of Canberra, where the British High Commission is situated. Alternatively, with British Consulates located in Sydney, Melbourne and Brisbane, the regulator could set up business in any of those major cities.
Who will lead the new FCA offices?
In the US, Tash Miah began work back in April in Washington, DC. She will work closely with the Department for Business and Trade to advance UK-US financial services policy. Her responsibilities also include improving regulatory cooperation and supporting financial firms in the US to navigate UK regulation.
As for Australia, Camille Blackburn will establish a regional office from July 2025 as the FCA’s APAC director. The role will focus on supporting financial services firms to navigate regulation to enter the UK market, She is also tasked with raising capital and providing UK firms with necessary support to successfully expand into the wider APAC region.
Who is Tash Miah?
Tash Miah has been with the FCA since 2022, working in its international division covering non-bank financial intermediation (NBFI) and leading the financial stability engagement group (FSEG).
She started her career at Morgan Stanley investment bank in London, in sales and trading covering hedge fund clients, which included a short spell in Hong Kong from 2018 to 2019.
Who is Camille Blackburn?
Camille Blackburn has more than 25 years’ experience in financial services regulation. She has been the director of wholesale buyside at the FCA since 2022, responsible for supervision, policy and market analysis for asset management and related services.
A respected industry professional, Ms Blackburn has previously worked as the global chief compliance officer for several large financial firms in the UK and in APAC. She has also held senior regulatory roles at the Central Bank of Ireland, the Australian Securities and Investments Commission (ASIC) and Australian Treasury.
What has the FCA said?
“The UK is a global hub for financial services”, said Sarah Pritchard, executive director of supervision, policy, competition and international. “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.”
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