FCA speaks on future of UK financial market

Nikhil Rathi – FCA Chief Executive – has delivered a speech on the future of the UK financial market at TheCityUK’s annual conference.

The speech highlighted the UK’s position as a leading financial hub, and the important of maintaining high levels of integrity in wholesale markets as the FCA shifts towards outcomes-based regulation.

As part of this shift, Rathi noted a number of initiatives, including scrapping redundant data returns and supervisory communications, unlocking flexibility in the mortgage market, launching new trading venues like PISCES. Similarly to its Strategy for 2025 – 2030, Rathi also highlighted the need for a balanced approach to risk.