FCA appoints Interim Retail Banking Director

The Financial Conduct Authority (FCA) has appointed Emad Aladhal as an Interim Director of Retail Banking

Aladhal has been appointed after David Geale was called on to become interim Managing Director of the Payment Systems Regulator (PSR) earlier this month. Former boss of the PSR, Chris Helmsley, stepped down, amid an outcry over plans to require banks and payment firms to reimburse victims of authorised push payment fraud up to £415,000 per claim. The Payments Association has called on the PSR to delay the plan by a year and lower the refund threshold to £30,000.

Aladhal, who has been the Director of a team of specialists working across financial crime at the FCA since January 2021, will start in the role on 1st July for a period of nine months.