The FSA has appointed forensic
accounting expert, David Smith as one of its three new senior advisors or ‘grey
panthers’ as they are colloquially referred to by the regulator.
Smith, who was formerly senior partner of KPMG Forensic Accounting, will act
as a sounding board over accountancy matters.
‘The senior advisers are appointed to give us insight into the markets that
we regulate. They come in and talk to us about how any policy we might be
planning would be perceived and work in the external world,’ said FSA
spokeswoman, Teresa La Thangue.
Smith has more than 20 years forensic experience of leading major financial
investigations for the Bank of England and FSA as well as audits into oil and
gas, banking and insurance industries. Since retiring from KPMG in 2003 he has
worked on a major compliance issue for a global bank and in 2007 helped the
start up of a US forensic firm in London.
The other two advisers are Simon Stockwell, a former head of European audit
and compliance at investment bank Lehman Brothers, and Jeremy Bennett, who has
more than 20 years senior banking.
‘These appointments further underline the FSA’s commitment to having the
right mix of people with market experience and regulatory backgrounds in the
organisation,’ said Sally Dewar, FSA managing director of wholesale and
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