The FCA’s executive director of consumers and competition, Sheldon Mills, is stepping down from his role at the UK regulator to conduct a review on the growing use of artificial intelligence in providing financial advice to consumers.
Mills, who joined the FCA in 2018 and has held his current role since 2020, is expected to leave the regulator in the coming months, Sky News reports. FCA employees are said to have been told of his impending departure last week.
According to the FCA website, Mills’ executive duties are currently being covered by deputy chief executive Sarah Pritchard and David Geale, managing director, payment systems regulator, with Mills said to have been on a leave of absence for much of the last 12 months.
