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The Financial Conduct Authority (FCA) has announced that Mark Steward, executive director of Enforcement and Market Oversight, will step down in spring 2023.
Steward has worked with the regulator for seven years, and the global search for his successor will begin shortly.
Having joined in 2015, the FCA said Steward has led the delivery of some of its most complex and high-profile enforcement cases, with many successes against major global financial institutions and individuals.
He also led the FCA’s listing authority and oversight of the UK’s publicly traded markets, a role in which he developed the FCA’s data-led approach to market oversight. Additionally, he has been at the forefront of the FCA’s anti-scam marketing campaign, Scamsmart.
Nikhil Rathi, FCA chief executive, said: “Mark has brought his formidable experience as a regulator and as a litigator to the FCA delivering significant enforcement cases across a broad spectrum, as well as the FCA’s data-led approach to market oversight.
“That enormous contribution is a result of Mark’s abiding belief in fairness, that markets must be clean if the economy is to thrive and in doing the right thing on behalf of consumers. He has shown that the FCA is willing to take on challenging cases, will use the full extent of our powers and will deliver results that have a real impact.”
He added: “I am hugely grateful for Mark’s leadership, dedication and expertise and wish him the very best for the future.”
Steward said: “It has been a privilege to serve the FCA throughout many challenges over the last seven years and, as I move on, to leave behind such a strong team for the future.”
