ADVERTISEMENTs
UK reappoints Nikhil Rathi as Financial Conduct Authority chief
Rathi became the first British-Indian to head the UK’s financial watchdog in 2020.
-
Malvika Choudhary - Thu, 10, Apr 2025
- 14:10 EDT
- 85
Nikhil Rathi / Bank of England
The UK government reappointed Nikhil Rathi as Chief Executive of the Financial Conduct Authority (FCA) for a second five-year term.
The confirmation was announced by Chancellor of the Exchequer Rachel Reeves on April 10, extending his leadership until September 2030.
Also Read: Rahul Varma appointed acting director at CFTC
Rathi, who became the first British-Indian to head the UK’s financial watchdog in 2020, will continue to steer the FCA through a period of regulatory reform aimed at boosting economic growth and competitiveness.
“Nikhil Rathi has been crucial in this government’s efforts to reform regulation so it supports growth and boosts investment – I am delighted he will be continuing his leadership of the FCA,” said Reeves. “We want the FCA to go further and faster to deliver this government’s Plan for Change.”
The reappointment aligns with the government’s broader strategy to streamline regulation and reduce the administrative burden on businesses. This includes the recent merger of the Payment System Regulator into the FCA to foster a more coordinated approach to oversight in the payments sector.
During Rathi’s tenure, the FCA has introduced initiatives such as simplifying mortgage lending rules to improve access for first-time homebuyers and enhancing support for financial services firms operating in the UK.
“I am honoured to be reappointed by the Chancellor,” said Rathi. “The FCA does vital work to enable a fair and thriving financial services sector for the good of consumers and the economy. I am proud of the reforms we have delivered to support growth, bolster operational effectiveness, set higher standards and to keep our markets clean and open.”
Chair of the FCA, Ashley Alder, welcomed the decision, calling Rathi “the right leader in testing times.” “His exemplary first term as chief executive has ensured the FCA is an organisation transformed,” Alder said.
The FCA is expected to publish its second report on its growth and competitiveness strategy later this summer. It continues to assess the regulatory landscape and eliminate outdated and duplicative rules in line with the government’s Regulatory Action Plan, which aims to cut regulatory costs by 25 percent.
Before joining the FCA, Rathi was chief executive of the London Stock Exchange’s UK division and held senior roles at HM Treasury, including Director of the Financial Services Group.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
E Paper
ADVERTISEMENT
.jpg)
Video
.png)
.png)
Comments
Start the conversation
Become a member of New India Abroad to start commenting.
Sign Up Now
Already have an account? Login