The reappointment of FCA CEO Nikhil Rathi this week for a further five year term was a surprise to some who expected a new face at the helm of the UK’s leading financial regulator.

Nikhil Rathi has been reappointed as chief executive of the Financial Conduct Authority for a second five-year term and will be CEO until 2030.

The FCA has confirmed that it will partially axe its 'name and shame' proposals for firms under investigation.

Prime Minister Sir Keir Starmer has announced that the Payment Systems Regulator (PSR) - a sister organisation of the FCA and based in the same London offices - will be abolished as part of an efficiency drive.

The FCA is moving swiftly to cut red tape to support growth in financial services, FCA chief executive Nikhil Rathi told delegates at an event today.

MPs and members of the House of Lords have today criticised FCA chief executive Nikhil Rathi for his ‘unconstructive’ response to their report published in October which branded the regulator ‘incompetent.’

I suspect many in the regulatory community never expected to be readying to throw some of their carefully-crafted rules on a bonfire of red tape to boost business growth, but that’s exactly what they are being asked to do by the government which this week stepped up its efforts to demand regulatory reform to promote business expansion.

FCA chief executive Nikhil Rathi appeared on ITV’s popular peak time programme The Martin Lewis Money Show last night to answer questions on a number of subjects including car finance claims.

A focus on how the FCA can support early and high growth firms will form the cornerstone of the FCA’s strategy between 2025 and 2030, according to CEO Nikhil Rathi.

The Financial Conduct Authority is ‘up for’ taking on greater risk and its more radical reforms are ready ‘for take-off,’ according to chief executive Nikhil Rathi.