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The FCA works alongside the Prudential Regulation Authority and the Financial Policy Committee to set regulatory requirements for the financial sector. The FCA is responsible for the conduct of around 58,000 businesses which employ 2.2 million people and contribute around £65.6 billion in annual tax revenue to the economy in the United Kingdom.
Rathi worked for HM Treasury from 2009 to 2014, and was director of the financial services group, leading the UK's EU and international financial services interests. [ 5 ] [ 6 ] In May 2014, Rathi joined the London Stock Exchange (LSE) as chief of staff and director of international development, and in 2015, was appointed CEO, working under ...
In March 2020, the Treasury Select Committee criticised the performance of the Financial Conduct Authority. The committee said it would monitor closely the culture, operations and transparency of the FCA. This followed damning criticisms of the watchdog by consumer and industry groups during Bailey’s tenure as its chief executive. [8]
Bank of England governor Andrew Bailey and the Financial Conduct Authority’s chief executive Nikhil Rathi are also in the chancellor’s delegation, according to the Treasury.
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He rose to the position of deputy chief executive, and was closely involved with the failed merger with Deutsche Börse which resulted in the resignation of the LSE's chief executive Gavin Casey. Wheatley was also Chairman of the FTSE International and sat on the Listing Authority Advisory Committee of the UK Financial Services Authority (FSA). [2]
A person performing the chief executive function may be a member of the governing body but need not be. If the chairman of the governing body is also the chief executive, he will be discharging this function. If the responsibility is divided between more than one person but not shared, there is no person exercising the chief executive function.
Sheldon Mills (born 5 June 1976) is the executive director, consumers and competition at the Financial Conduct Authority. [1] [2] He had previously been a senior director at the Competition and Markets Authority. He chairs the board of trustees of Stonewall.