Trade union Unite has given the Financial Conduct Authority a 10 day deadline to recognise the union.

Sharon Graham, head of the trade union, said staff at the FCA have flooded to join Unite following “months of turmoil” within the organisation.

She said FCA staff that have joined the union have expressed frustration at the leadership and direction of the regulator.

Yesterday Ms Graham sent a letter to FCA chief executive Nikhil Rathi, “to make a request for voluntary recognition of Unite by the FCA under Schedule 1A of the Trade Union and Labour Relations (Consolidation) Act 1992 for a bargaining unit consisting of all FCA employees of the FCA below the Grade of Head of Department”.

Under the legislation the FCA has 10 working days to respond to this request.

Ms Graham said: “Staff at the Financial Conduct Authority are flooding to join Unite as their independent trade union voice. The FCA management cannot any longer stick their heads in the sand and ignore the anger within their workforce. It is time for them to recognise Unite as the representative of staff in the FCA.

“Employees at the regulator want to be heard. Last month Unite launched a staff petition to secure the right to be formally recognised to represent workers across the organisation - the first time this has happened in the organisation’s history - following the massive growth in staff joining the union.

“The phenomenal response to the survey is a clear response to the consultation on changes to pay and grading as part of new CEO Nikhil Rathi’s transformation plans.”

If the FCA does not respond to Unite within 10 working days, the trade union has the right to apply to the Central Arbitration Committee for recognition.