UK: Former CC exec to lead new banking regulator

The UK’s Financial Conduct Authority has nabbed another former Competition Commission member following the overhaul of competition regulatory bodies.

According to reports, the FCA has welcomed David Saunders, who will join the regulator following his retirement from the Competition Commission, where was chief executive between 2009 and 2013.

The Competition Commission was merged with the Office of Fair Trading last month to become the Competition and Markets Authority, with some regulatory responsibilities going to the FCA.

Saunders is slated to work at the FCA’s competition department as well as its upcoming Payment Services Regulator, which will promote competition in the banking industry, according to reports.

Full content: Risk.net

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