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In a move that underscores the UK’s commitment to progressive financial regulation and innovation, Chancellor Rachel Reeves has officially reappointed Nikhil Rathi as Chief Executive Officer of the Financial Conduct Authority (FCA), extending his leadership through 2030.
Rathi’s renewed mandate comes at a critical juncture as the UK government rolls out its Regulatory Action Plan, designed to streamline compliance processes and reduce the regulatory burden on businesses by 25%. A major component of this reform includes the integration of the Payment Systems Regulator (PSR) into the FCA, a strategic step aimed at bolstering growth and oversight within the evolving payments ecosystem.
Since assuming leadership, Rathi has been instrumental in reshaping the UK’s financial regulatory landscape. His tenure has seen the rollout of the Consumer Duty framework, enhanced scrutiny of Big Tech’s influence on financial markets, and the promotion of inclusive financial services through strengthened diversity policies. He also advanced innovation by empowering startups through regulatory sandboxes and agile compliance frameworks.
Commenting on the reappointment, Chancellor Reeves remarked:
“Nikhil Rathi has played a central role in transforming regulation to foster economic growth and attract investment. I am pleased he will continue to lead the FCA as we push for deeper reforms under the government’s Plan for Change.”
Rathi reaffirmed his commitment to modernizing regulation, saying:
“It’s an honour to be reappointed. The FCA’s mission is critical—ensuring a fair, secure, and dynamic financial system. I am proud of our work in enhancing regulatory efficiency, raising market standards, and driving innovation to benefit both consumers and the broader economy. In this era of volatility, we must go further and faster. The UK remains well-positioned as a global leader in financial services.”
His second term is expected to intensify efforts around compliance automation, regulatory intelligence, financial crime prevention, and regulatory technology solutions that promote resilient, future-ready financial markets.
As the FCA evolves to meet the demands of a digital-first economy, Rathi’s continued leadership is poised to reinforce the UK’s standing as a premier hub for regulatory innovation, risk assessment, and financial services governance.
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