PANews reported on May 8 that according to Crowdfundinsider, the UK Financial Conduct Authority (FCA) appointed David Geale as executive director of the Payment System Regulator (PSR) and concurrently head of the Payment and Digital Finance Department. Geale has been acting director of PSR since June 2024. Geale has served in the FCA and its predecessor, the Financial Services Authority (FSA), for more than 20 years. He served as director of retail banking and led a number of policy reforms, including the retail distribution review during Brexit. Recently, he has been responsible for formulating a regulatory framework for crypto assets, savings interest rate policy, and a mortgage market reform plan.