"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"
- Nikhil Rathi - Financial Conduct Authority
HM Treasury has announced that it has reappointed Nikhil Rathi as Chief Executive of the Financial Conduct Authority (FCA) for a second term.
Since Nikhil joined in October 2020, the FCA has undertaken reforms to strengthen the UK’s position in wholesale markets, including the biggest changes to the listing regime in over 3 decades.
However, during his first term with the regulator, he often had to contend with a fractured relationship between the FCA and government, and was caught up in public rows about its enforcement regime.
His first term also saw the regulator raise standards and introduce the Consumer Duty so people get the right support, communication they can understand, and products and services that meet their needs and offer fair value.
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 4 priorities: to be a smarter regulator, support economic growth, help consumers navigate their financial lives and fight financial crime.
Nikhil Rathi (pictured), Chief Executive of the FCA, 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 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.”
Ashley Alder, the FCA’s Chair, added: “I am delighted Nikhil has been reappointed. He’s the right leader in testing times. His exemplary first term as chief executive has ensured the FCA is an organisation transformed. We've set a new standard for consumer protection, made it easier for businesses to access capital and quicker for firms to get authorised. That provides the solid foundation to deliver our ambitious new strategy - to deepen trust, rebalance risk, support growth and improve lives.”
