November 30, 2024 - 10:15
The Chief Executive of the Financial Conduct Authority (FCA), Nikhil Rathi, has come forward to defend the organization following a critical report released by Members of Parliament and peers. The report highlighted several shortcomings within the FCA, raising concerns about its effectiveness in regulating financial markets and protecting consumers.
Rathi emphasized that the findings of the report do not accurately reflect the ongoing efforts and achievements of the FCA. He pointed out that the organization has made significant strides in enhancing its regulatory framework and improving its responsiveness to emerging financial risks. Rathi acknowledged that while there is always room for improvement, the FCA remains committed to its mission of ensuring that financial markets operate fairly and transparently.
In response to the criticisms, Rathi urged stakeholders to consider the complexities involved in regulating a rapidly evolving financial landscape. He reaffirmed the FCA’s dedication to continuous improvement and collaboration with industry partners to foster a more resilient financial system.
