ao link
0 £0.00
This item was added to your basket
Credit Strategy homepage
Intelligence, Insight and community for responsible professionals in credit

FCA chief executive outlines regulator’s plans post-Brexit

The chief executive of the Financial Conduct Authority (FCA) Nikhil Rathi has outlined what lies ahead for the financial regulator post-Brexit, and eventually post-Covid-19.

In his speech to the Association of Foreign Banks (AFB), Rathi highlighted the important role international firms play and have played in helping ensure competition in UK markets.


Rathi says: “Our regulation of overseas firms is aimed at achieving the same outcomes as our regulation of domestic firms, and ensuring a level playing field. We want to see high standards of conduct and behaviour, with appropriate protection for markets and consumers.”


In order to continue with international co-operation, the FCA have signed a Memoranda of Understanding with regulators across Europe and with the European Supervisory Authorities.


The financial regulator has also be working with UK government on the broader UK-EU Memorandum of Understanding on regulatory co-operation in financial services.


Rathi acknowledges that in the wake of Brexit, some firms have restructured their activities to ensure they are able to operate across different jurisdictions, and serve clients throughout Europe.


The FCA will continue to work with the EU going forward with increased flexibility, for example earlier in the year, the FCA proposed to increase the limit for contactless payments to £100. Last week, a consultation launched on Markets in Financial Instruments Directive (MiFID) rules on research and best execution reporting.


Climate change progress

Rathi also said in his speech, that the UK government has asked the financial regulator to work towards a net-zero economy by 2050.


With this goal in mind, the FCA have hired Sacha Sadan from Legal and General Investment Management (LGIM) as their first Director of ESG (environmental, social and corporate governance) to help understand climate change.

Please login to continue reading this article.

Not a member?

Become a member

FREE registration. No credit card required

Register now
  • Stay up-to-date with industry news and appointments
  • Hear about events first
  • Read 1 free Premium article per month

Become a premium member

From as little as £3.48 per week

Become Premium
  • All the perks of a standard member plus:
  • Access to the entire Credit Strategy website
  • 12 months subscription to Credit Strategy Magazine
  • 25% discount to all conferences
  • Exclusive access to Premium Member only roundtables
  • 50% off award entry fees



PSR publishes five-year strategy for improved payments market

PSR publishes five-year strategy for improved payments market

Clearpay’s parent company records 110% profit growth

Clearpay’s parent company records 110% profit growth

Klarna records year-on-year operating income increase

Klarna records year-on-year operating income increase

Upcoming events

Credit Strategy
LinkedIn page

Member of

Did you find our website useful?

Thank you for your input

Thank you for your feedback – an online news and information service for the UK’s commercial and consumer credit industry. is published by Shard Financial Media Limited, registered in England & Wales as 5481132, Axe & Bottle Court, 70 Newcomen St, London, SE1 1YT. All rights reserved. Credit Strategy is committed to diversity in the workplace. @ Copyright Shard Media Group