Government names CPMA chief

HM Treasury has named Martin Wheatley as chief executive designate of the Consumer Protection and Markets Authority (CPMA).

Under the new regulatory structure announced last summer, the CPMA will have responsibility for promoting confidence in financial services and markets, with particular focus on ensuring that consumers are protected and that financial markets work effectively.

The new body should be established by the end of 2012, and in the meantime Mr Wheatley he has been appointed as a managing director of the FSA’s Consumer and Markets business unit.

From 1st September 2011, he will work with the current FSA executive team to prepare for the transition.

Mr Wheatley takes up the role having served a five-year term as chief executive officer of Hong Kong’s Securities and Futures Commission.

Prior to this, he held various posts, including deputy chief executive of the London Stock Exchange Group and member of the FSA’s Listing Authority Advisory Committee.

The Government will be setting out further detailed proposals on financial regulation reform in a consultation to be launched later this month.

 

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