FCA's McDermott receives CBE in Queen's Birthday Honours list

Alliance Trust Lord Smith of Kelvin also honoured

Natalie Kenway
clock • 1 min read

Acting chief executive of the Financial Conduct Authority Tracey McDermott and Alliance Trust chairman Lord Smith have been awarded honours by the Queen in her 90th Birthday Honours List.

McDermott, who will be stepping down from her role and leaving the organisation on 1 July, will receive a CBE for her services to financial services' consumers and markets. She became the acting CEO in September 2015, after Martin Wheatley was ousted by the Chancellor, and will be replaced by Andrew Bailey, deputy governor for prudential regulation at the Bank of England and chief executive of the PRA, who takes over next month. Earlier this year, McDermott revealed she had decided in December 2015 to withdraw from the process to appoint the permanent chief executive of the FCA but wo...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Regulation

FCA reviewing client categorisation rules to clearly distinguish retail investors from the pack

FCA reviewing client categorisation rules to clearly distinguish retail investors from the pack

Goal of 40 more initiatives to be completed by year end

Eve Maddock-Jones
clock 10 July 2025 • 2 min read
Non-financial misconduct to be considered rules breach under updated framework

Non-financial misconduct to be considered rules breach under updated framework

Effective from September 2026

Cristian Angeloni
clock 02 July 2025 • 2 min read
FCA payable fees to drop by close to £10m in the next year

FCA payable fees to drop by close to £10m in the next year

Criticism over increased fees

Patrick Brusnahan
clock 01 July 2025 • 1 min read
Trustpilot