All change at the top

Various changes have taken place at the top of the leading white collar enforcement agencies. Nick Ephgrave was recently appointed director of the Serious Fraud Office (SFO), Therese Chambers and Steve Smart were appointed to head up the Financial Conduct Authority’s (FCA) enforcement division, and Stephen Parkinson has taken over as Director of Public Prosecutions (DPP). Following the general election on 4 July, the UK will have a new government, with Sir Keir Starmer currently in pole position to become the next prime minster.

In my experience a change of political colour at the top often leads to a change in focus for the various financial crime enforcement agencies. This dynamic may be amplified this time around by dint of three reasons.

First, Sir Keir is a former DPP. Second, there appears to be great appetite for change, albeit little appetite for spending public money in the pursuit of that change. Third, we may not have seen the