Information on the appointment of a Senior Legal Adviser

Subject matter: appointment of Raj Parker as Senior Legal Adviser
Business area or division: HR
Dates: prior to 23 June 2021

On 23 June 2021, the FCA announced the appointment of Raj Parker as part-time Senior Legal Adviser.

1. Was this role advertised externally (if so, where) or internally? Was a recruitment firm engaged to assist with the search?
2. How many candidates (i) applied and (ii) were interviewed by the FCA?
3. On what grounds was Raj Parker chosen for the role, above other actual or prospective candidates?
4. What consideration was given to the risk that his appointment might appear to constitute a reward for having delivered a relatively harmless Independent Review into the regulator's handling of The Connaught Income Fund Series 1?

1. Was this role advertised externally (if so, where) or internally? Was a recruitment firm engaged to assist with the search?

The role was not advertised, as Mr Parker was approached directly to take up this position. This is not unusual when appointing a Senior Adviser. Senior Advisers provide a wide range of services to the FCA, including support, mentoring and expert advice for our senior leaders on a flexible basis. As a result, we are typically looking for very specific skills and experience.

Mr Parker was approached as, following the departure of the FCA’s General Counsel, we needed to move quickly to recruit individuals with deep industry and legal knowledge on a time-limited basis. Following his independent review, Mr Parker is ideally placed to support the Interim General Counsel, David Scott, and also offer critical and impartial advice to the FCA as we evolve our culture and transform our organisation.

The FCA Board and Nomination Committee were fully sighted on the recruitment.

A full internal and external competition for a permanent General Counsel will be launched shortly.

2. How many candidates (i) applied and (ii) were interviewed by the FCA?

Please see question 1, above.

3. On what grounds was Raj Parker chosen for the role, above other actual or prospective candidates?

Please see question 1, above.

4. What consideration was given to the risk that his appointment might appear to constitute a reward for having delivered a relatively harmless Independent Review into the regulator's handling of The Connaught Income Fund Series 1?

Mr Parker's report was robust and thorough, with a number of significant recommendations for the FCA which we have accepted and are implementing. The FCA seeks to learn from its mistakes and, given his unique insight and deep knowledge of the FCA, we considered his recruitment on a part time basis (1.5 days a week) would help us to continue learning and embed the lessons of the independent reviews at this critical stage for the organisation. Mr Parker was not approached regarding a Senior Adviser role until after the publication of his report.