The U.K.’s Financial Conduct Authority (FCA) has named Sarah Pritchard as its first Deputy Chief Executive, a newly created role intended to support the regulator’s broader responsibilities, particularly in digital assets and financial technology. The FCA said the new role was created to reflect its growing responsibilities, including oversight of stablecoin and crypto firms, as well as buy now, pay later services. As Deputy CEO, Pritchard will help advance a broader crypto regulatory framework, with plans to begin licensing crypto companies in line with traditional financial institutions by 2026.
Pritchard, previously Executive Director at the FCA overseeing supervision and policy, will now work closely with CEO Nikhil Rathi, who was reappointed in April, and David Geale, Executive Director for payments and digital finance. Her responsibilities will also include international engagement. FCA Chair Ashley Alder noted that the regulator faces a complex international landscape, an expanding remit, and rising expectations. While the U.K. trails the EU’s Markets in Crypto Assets (MiCA) framework, the FCA has started releasing discussion papers on crypto oversight. Pritchard has signaled the agency’s willingness to work with the crypto industry to develop practical, effective regulations.
