The UK’s chief financial services regulator, the Financial Conduct Authority (FCA), has announced it will establish a new Asia-Pacific hub, tapping Australian expertise.

The FCA’s APAC hub, set to launch in July this year, will provide support for Asia Pacific-based financial services firms seeking to enter the UK market or raise capital, offering guidance in navigating regulatory hurdles in the UK.

As well, the office will also support UK firms with expansion ambitions in the Asia Pacific region.

The former head of ASIC’s investment banking division and the FCA’s current director of wholesale buyside, Camille Blackburn, will oversee the FCA’s APAC branch as director.

The forthcoming launch of the new APAC hub was announced with the opening of the FCA’s US office, with Tash Miah, with the FCA since 2022, overseeing the new US branch.

Sarah Pritchard, the FCA’s executive director, supervision, policy, competition and international, said the new appointments would help the regular “deliver on our mission to support growth through the export of UK financial services and attracting more inward investment to our shores”.

“We recognise that major international investors want easier access to us, and having a presence in these key regions will help achieve that.”

She added that the FCA was “committed to continuing to build our global network and international reputation”.

The FCA, alongside the Prudential Regulation Authority (PRA), is the UK’s chief financial services industry regulator, responsible for overseeing regulated entities’ conduct and financial markets integrity.

The announcement of the new global hubs comes as the FCA commits to further accelerating the UK’s home-grown start-up and fintech ecosystem, including initiatives to growth the country’s regulatory sandbox, support more early and high growth firms, and create a legislative framework that enables relevant firms to conduct limited regulated activities with streamlined conditions.