The Financial Conduct Authority (FCA) has appointed David Anthony Scott as its interim general counsel.
The announcement follows the recent departure of general counsel Sean Martin.
Scott was most recently a litigation partner at Freshfields before retiring from the firm in October 2020. At Freshfields he specialised in High Court litigation and regulatory investigations and proceedings. His clients included investment banks, retail banks, life and general insurance companies and asset managers.
He also spent 18 months in an earlier part of his career on secondment to the FSA and has advised both the Bank of England and FSA on various legal matters.
Daniel Thornton, currently director of enforcement legal, has also been appointed as deputy general counsel and will support Scott.
The FCA is planning to appoint Raj Parker as part-time senior legal adviser.Parker is an associate member at Matrix Chambers and a part-time judge and arbitrator. He has conducted numerous investigations into governance and conduct issues in many different sectors for over 30 years. In particular, he has extensive experience in financial markets and regulatory investigations.
Prior to joining Matrix he was a partner at Freshfields for 23 years where he specialised in international commercial and financial services dispute resolution. Raj most recently conducted the independent review into the Connaught Income Fund Series 1 and the FCA accepted all the recommendations of his review.
Nikhil Rathi, chief executive of the FCA, said: “I am delighted to welcome both David and Raj to the FCA. David brings over 25 years of legal regulatory experience, a proven track record and an excellent reputation in the UK and internationally. Following his independent review, Raj is ideally placed to offer critical and impartial advice to the organisation as we evolve our culture and transform our organisation. His experience and deep knowledge of the FCA will help us to continue learning and embedding the lessons of the Independent Reviews at this critical stage for the organisation.
“I would also like to thank Sean Martin for his dedicated service and his invaluable contribution to the FCA, and previously the FSA, where he has supported and developed a high-quality legal function and has provided wise counsel on a range of strategic issues.”