She is the City’s enforcer, the woman who takes on the rogues. Tracey McDermott, head of the new Financial Conduct Authority, talks to Chris Blackhurst about the cleaned-up City of London and the values instilled by her Catholic childhood When I arrived to meet Tracey McDermott, she was waiting for me. I was on time, but she was there already, sitting in a meeting room, working her way through a pile of papers. I say this because whenever I’ve met senior executives of the old Financial Services Authority (FSA) – the regulator broke in two after the banking crash, into the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA), where McDermott is the director of enforcement and financial crime – I’ve been kept waiting. The building at Ca