London, April 10 (PTI) Nikhil Rathi, Indian -origin Chief Executive Officer of Financial Conduct Authority (FCA) of UK, was re -appointed on Thursday by Chancellor of Excreater Rechalle Reves for a second term.
Describing the leadership of the financial sentinel for the government’s reform agenda as “important”, Reeves said she wanted her to move forward in her efforts to promote economic growth and investment during her new five -year tenure.
FCA is in charge of keeping them into account, as a regulator for the UK financial markets and over 40,000 financial services firms.
“Nikhil Rathi has been important in the government’s efforts to improve the regulation of this government, so Nikhil Rathi has been important in the UK Treasury Department statement, so it supports and promotes investment – I am glad that he will continue his leadership of FCA.”
He said, “We want FCA to move forward to change this government’s plan ahead and fast and we are ready to work together to achieve it,” he said.
The Treasury said Rathi would lead the FCA as it would continue its efforts to make the UK “unnecessary, older and duplicate rules” to make the best place to trade “, while ensuring that consumers have to ensure that consumers have to protect them from restrictions and may be confident in markets.
“FCA does important work to enable a fair and prosperous financial services sector for consumers and the good of the economy,” Rathi said in response to his recruitment.
He said, “I am proud of the reforms that we have given to support development, support operational effectiveness, set high standards and keep our markets clean and open. While we should go further and faster in the instability of this era, the UK is kept as a major international financial center as well,” he said.
The 45-year-old financial experts, who have their parents’ roots in Rajasthan and Madhya Pradesh, were born and grew up in northern England. He was first appointed as CEO of FCA by the then Prime Minister Rishi Sunak in 2022 and moved beyond his role as the head of the London Stock Exchange at that time.
According to the Treasury, Prime Minister Kir Stmper and Reeves challenged the FCA to come up with ideas to promote economic development in December last year.
Since then, the financial sentinel has been stated that he has pushed forward this challenge to come up with a series of policy changes, including the changes in the rules for people to reach the housing ladder and help additional support to help the firms of financial services start and increase the firms of financial services in the UK.
FCA President Ashley Elder welcomed Rathi’s second term as “the right leader in the testing time”.
“His exemplary first term as Chief Executive Officer has ensured that FCA is an organization converted. We have set a new standard for consumer protection, making it easy for businesses to use capital and intensifies for firms to be authorized for firms. Said.
To allow a more coordinated and well -organized regulatory approach, the Treasury mainly pointed to the merger of the payment system regulator in FCA.
Meanwhile, it has been stated that the FCA continues to investigate the financial services regulator landscape and is working to eliminate any unnecessary rules that hold back development.