Committee publication · Correspondence · 22 April 2025
Correspondence from HM Treasury on the reappointment of the Chief Executive of the Financial Conduct Authority, 10 April 2025
From: Treasury Committee
Summary
HM Treasury notifies the Treasury Committee of the reappointment of Nikhil Rathi as Chief Executive of the Financial Conduct Authority for a second five-year term starting 1 October 2025. The Chancellor cites Rathi's expertise and the need for continuity amid reforms, particularly the integration of the Payment Systems Regulator into the FCA.
Key findings
- Nikhil Rathi reappointed as FCA Chief Executive for a second five-year term effective 1 October 2025
- Reappointment intended to provide leadership continuity during key regulatory reforms and PSR integration into the FCA
- Treasury officials offered to facilitate parliamentary scrutiny of the reappointment
- Announcement made publicly on 10 April 2025
Tone
ProceduralTopics
financial-regulationpublic-appointmentsregulatory-reform
Key actors
Rachel Reeves, Nikhil Rathi, Dame Meg Hillier, Ashley Alder, Financial Conduct Authority, HM Treasury, Payment Systems Regulator
Notable line
“Nikhil continues to bring a vast amount of knowledge and expertise to the FCA, and his reappointment will provide continuity of FCA's senior leadership at this time …”
Key Quotes
“I am delighted that Nikhil will serve a second term. Nikhil continues to bring a vast amount of knowledge and expertise to the FCA, and his reappointment will provide continuity of FCA's senior leadership at this time, to ensure the organisation is fully f ocused on supporting the government's growth mission, delivering key reforms, and supporting the integration of the Payment Systems Regulator primarily into the FCA.”
Source · parliament.uk record ↗