Following the Rules FCA CEO Nikhil Rathi on his to-do list for 2025, the regulator's future, and life at the helm of the City watchdog
7 snips
Jan 28, 2025 In this discussion, Nikhil Rathi, CEO of the FCA since 2020, shares his vision for the regulator's objectives leading up to 2025. He highlights the challenges of balancing regulatory duties with the need for innovation and growth in the financial sector. Rathi candidly discusses the intense public scrutiny he faces and the progress made in enforcing regulations, particularly around non-financial misconduct. The conversation also touches on the FCA's global strategy and ongoing efforts to enhance market integrity amidst evolving digital landscapes.
AI Snips
Chapters
Transcript
Episode notes
System-Wide View
- The competitiveness of individual sectors might not always benefit the overall economy and consumers.
- Regulators must consider system-wide impacts when making decisions, not just individual firm interests.
Bereavement Insurance Example
- The FCA found that some insurance firms process bereavement claims much faster than others.
- This led them to suggest an industry-wide standard for electronic death verification.
Handling Criticism
- The FCA emphasizes the importance of listening to feedback and staying level-headed amidst criticism.
- They highlight improvements in operational performance, authorizations, and staff culture.