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Peer2Peer Finance News | May 26, 2019

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FCA names Sheldon Mills as director of competition

FCA names Sheldon Mills as director of competition
Suzie Neuwirth

THE CITY watchdog has strengthened its oversight of competition in financial services with the appointment of Sheldon Mills.

Mills, who is currently senior director of mergers and state aid at the Competition and Markets Authority (CMA), will become director of competition at the Financial Conduct Authority (FCA), effective from November.

He will work under Christopher Woolard, the FCA’s executive director of strategy and competition.

In his new role, Mills will be a “central figure” in helping the regulator meets its objective of promoting competition in consumers’ interest, the FCA said.

Read more: FCA uses P2P as example of balancing competition and innovation

In addition to delivering market studies, Mills will also be responsible for the FCA’s activities to enforce prohibitions on anti-competitive behaviour within the financial services industry.

“I am delighted to be joining the FCA to lead their expert and committed competition team,” said Mills.

Read more: FCA: ‘We are not shutting the public out of P2P’

“Financial markets face major change and complexity, so the FCA’s competition work is essential. I am looking forward to leading a programme of work which delivers real and lasting change for people and communities across the UK.”

Woolard said Mills is an “undisputed expert in competition law and policy” who will continue the “ground-breaking and vital work” that the regulator has done within competition.

Read more: Consumer credit regulation “largest” challenge FCA has faced