View more on these topics

FBI veteran joins FCA investigations team

FCA interior 620x430

A former US Federal Bureau of Investigation boss is to join the FCA as retail and regulatory investigations director.

According to a Bloomberg report, Michael Welch, who most recently ran Standard Chartered’s internal investigations unit in the UK, joins the FCA this month.

He will report to FCA enforcement and market oversight director Mark Steward, and replaces Tom Spender who now works for Lloyds Banking Group.

Welch previously ran the FBI’s international operations and worked at the agency for 30 years.

He moved to London in 2014 to work as group head of shared investigative services at Standard Chartered.

At the bank he is said to have worked with former spies, police detectives and compliance officers as part of a programme accredited by the City of London Police.



Rory Percival quits the FCA

Rory Percival, a technical specialist at the FCA, is leaving the regulator after 10 years. Percival joined the FSA in 2006, a month after the announcement of RDR, then moving to the FCA when it was formed. He has worked on various aspects of the regulator’s work, including RDR, CIPs, risk profiling and platform use by […]


Andrew Bailey begins reign as FCA chief

Former Prudential Regulation Authority head Andrew Bailey begins his new role as Financial Conduct Authority chief executive today. Bailey succeeds Tracey McDermott, who was been interim chief executive since Martin Wheatley exited in September 2015. The PRA’s most recent annual report shows Bailey was paid a total of £350,000 in 2015/16, this rises to £460,000 at the […]

Investment Forum

Position Portfolios for a Changing China, Accelerating Disruption and More Political Discourse Is China an asset class? Why Investors’ Understanding of China is Changing How is disruption changing the way we invest? Established Ways of Doing Business Are Being Challenged What to Watch: Why politics matters more than ever in 2017 Key takeaways: Despite volatile […]


News and expert analysis straight to your inbox

Sign up


There are 10 comments at the moment, we would love to hear your opinion too.

  1. Great, he’ll be cheap then

  2. “Water boarding” the new norm for UK regulation !

  3. Neil Liversidge 18th August 2016 at 9:42 am

    Maybe he’d like to start by looking at what happened to clients of Blueinfinitas Ltd?

  4. Very apposite. An untouchable joining the untouchables. Elliot Ness – eat your heart out.

  5. *Insert typical unprofessional generic dismissive/derisive comment*

  6. Hi, my name’s Special Agent Welch, I’m with the FCA. May I come in? I have a few questions I’d like to ask.

  7. Be afraid, very afraid. Did someone else say that once?

  8. Quis custodiet ipsos custodes? 18th August 2016 at 4:51 pm


  9. Anybody fancy some rehydration? Where is that hosepipe?

Leave a comment