Britain said on Tuesday that regulatory expert Richard Monks had been appointed as chief executive of the newly established Independent Football Regulator (IFR), tasked with overseeing governance and financial sustainability in English soccer.

Monks, a former executive at EY and the Financial Conduct Authority, will lead the independent regulator as it begins implementing reforms under the Football Governance Act, including powers to intervene in club ownership and licensing.

IFR chair David Kogan, appointed on Monday to the role, said Monks’ appointments demonstrates the regulator is “hitting the ground running.”

Monks said: “My full focus will be on building the organisation and regulatory regime that delivers the right result for the football pyramid and its millions of fans, and supporting clubs throughout the process.”

He has nearly 20 years of experience in the financial regulation sector, holding seniors roles at the FCA – Britain’s financial watchdog – and its predecessor, focusing on strategy, policy and supervision.

The government previously said the act would establish the IFR and a new set of rules to protect clubs, along with empowering fans and keeping clubs at the heart of their communities.