STORY
Nikhil Rathi has been reappointed for a second five-year term as Chief Executive of the Financial Conduct Authority (FCA), extending his leadership until September 2030. Chancellor Rachel Reeves emphasised Rathi’s pivotal role in regulatory reforms aimed at supporting economic growth and investment. She stated, “Nikhil Rathi has been crucial in this government’s efforts to reform regulation so it supports growth and boosts investment.”
Under Rathi’s leadership, the FCA has initiated significant policy changes, including simplifying mortgage lending rules to facilitate home ownership and enhancing support for financial services firms in the UK. These efforts align with the government’s broader agenda to reduce administrative costs and promote a pro-growth regulatory environment. Rathi expressed his commitment to advancing the FCA’s mission, stating, “I am honoured to be reappointed by the Chancellor. The FCA does vital work to enable a fair and thriving financial services sector for the good of consumers and the economy.” His reappointment comes amid challenges, including political pressure for pro-growth regulatory reforms and addressing issues like unclear commission charges in motor finance agreements.