HM Treasury has reappointed Nikhil Rathi (pictured) as chief executive of the Financial Conduct Authority (FCA) for a second term.
Originally hired in October 2020, under Rathi’s watch the FCA said it has undertaken reforms to strengthen the UK’s position in wholesale markets, including the “biggest” changes to the listing regime in over more than three decades.
His tenure has also included the introduction of the Consumer Duty as well as a subsequent streamlining of the regulator’s rulebook in a bid to lower costs for firms and boost international competitiveness.
In the last year it has also announced and subsequently begun its first market study of the retail protection market.
The FCA also worked to reduce and prevent serious harm by ensuring firms meet expected standards at authorisation while reducing the time it takes for them to get approved, bringing more criminal charges last year than ever before and by cutting investigation times.
In March 2025, the FCA published a new five-year strategy with four priorities: to be a smarter regulator, support economic growth, help consumers navigate their financial lives and fight financial crime.
Rathi said: “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.
“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. While we must go further and faster in this age of volatility, the UK is well placed as a major international financial centre.”
