Richard Moriarty has in the present day (31 July 2023) been introduced because the CEO of the Monetary Reporting Council (FRC). He replaces Sir Jon Thompson, who has led the FRC since 2019.
The Financial Reporting Council (FRC) promotes transparency and integrity in enterprise. It regulates auditors, accountants and actuaries, and units the UK’s Company Governance and Stewardship Codes. Richard will proceed the work began by Sir Jon to remodel the FRC into a brand new regulator – the Audit, Reporting and Governance Authority.
Enterprise Minister Kevin Hollinrake stated:
Richard Moriarty is a incredible appointment to this position. His in depth background in management and specialised expertise in regulatory and market reform will make sure the FRC continues to make sure enterprise integrity and transparency.
I’m grateful to Sir Jon Thompson for all his exhausting work in his time as CEO and want him the most effective in his position as Chair of HS2.
Richard Moriarty stated:
The FRC has a vital position to play in underpinning investor and public confidence in monetary reporting and company governance within the UK. It’s a privilege to be requested to guide the organisation at this essential time and oversee its profitable transformation into the brand new Audit, Reporting and Governance Authority.
I would like the organisation to be formidable for a way successfully it engages with all those that have an curiosity in its goal and its place in supporting the UK as a terrific place for enterprise development and funding.
Richard just lately stepped down from the Board of the UK’s Civil Aviation Authority the place he served as CEO for 5 years and deputy CEO for 2 years. Beneath his management the CAA earned constructive recognition from impartial critiques, each nationally and internationally, as a extremely efficient and world main regulatory authority.
He has over 20 years of board stage expertise throughout a variety of regulated sectors. Amongst his roles he has been CEO of the Authorized Companies Board, an govt director and subsequently deputy chair of the Social Housing Regulator, deputy CEO of a communications regulator and a director of a regulated water firm. He’s at present a non-executive and the senior impartial director with a social housing affiliation charity.
Richard has specialised in regulatory and market reform, governance and monetary oversight, skilled companies regulation, security cultures, financial regulation, and competitors coverage. He has undergraduate and postgraduate levels in economics, and later obtained an MBA from the College of Warwick Enterprise Faculty.