Richard Moriarty has today (31 July 2023) been announced as the
CEO of the Financial Reporting Council (FRC). He replaces Sir
, who has led the FRC since 2019.
The Financial Reporting Council
(FRC) promotes transparency and integrity in business. It
regulates auditors, accountants and actuaries, and sets the UK’s
Corporate Governance and Stewardship Codes. Richard will continue
the work started by Sir Jon to transform the FRC into a new
regulator – the Audit, Reporting and Governance Authority.
Business Minister said:
Richard Moriarty is a fantastic appointment to this role. His
extensive background in leadership and specialised experience in
regulatory and market reform will ensure the FRC continues to
ensure business integrity and transparency.
I’m grateful to Sir for all his hard work in his time as CEO and wish
him the best in his role as Chair of HS2.
Richard Moriarty said:
The FRC has a critical role to play in underpinning investor and
public confidence in financial reporting and corporate governance
in the UK. It is a privilege to be asked to lead the organisation
at this important time and oversee its successful transformation
into the new Audit, Reporting and Governance Authority.
I want the organisation to be ambitious for how effectively it
engages with all those who have an interest in its purpose and
its place in supporting the UK as a great place for business
growth and investment.
Biography
Richard recently stepped down from the Board of the UK’s Civil
Aviation Authority where he served as CEO for five years and
deputy CEO for two years. Under his leadership the CAA earned
positive recognition from independent reviews, both nationally
and internationally, as a highly effective and world leading
regulatory authority.
He has over 20 years of board level experience across a range of
regulated sectors. Among his roles he has been CEO of the Legal
Services Board, an executive director and subsequently deputy
chair of the Social Housing Regulator, deputy CEO of a
communications regulator and a director of a regulated water
company. He is currently a non-executive and the senior
independent director with a social housing association charity.
Richard has specialised in regulatory and market reform,
governance and financial oversight, professional services
regulation, safety cultures, economic regulation, and competition
policy. He has undergraduate and postgraduate degrees in
economics, and later obtained an MBA from the University of
Warwick Business School.
