In the build-up to his appointment as chief executive of the Financial Conduct Authority (FCA) in 2020, Nikhil Rathi stated that his vision for the regulator involved “a stronger,.
In the United Kingdom, the Financial Conduct Authority has been tasked with regulating the conduct of financial-services firms and financial markets. The regulator has been criticised for falling short of prompt enforcement, causing the FCA to analyse its supervisory and enforcement operations and aim for faster but fewer investigations.
<p><strong><span style="background-color: #ffcc00;">Louise Whitestone, Thomas Seiler and Gustavo Raitzin have referred their Decision Notices to the Upper Tribunal where they will each present their respective cases. The Upper Tribunal will then determine whether to dismiss the respective references or remit them to the FCA with a direction to reconsider and reach a decision in accordance with the findings of the Upper Tribunal. Any findings in the individuals’ Decision Notices and the descriptions of those findings in this press release are therefore provisional and reflect the FCA’s belief as to what occurred and how it considers their behaviour is to be characterised.</span></strong></p>