FCA bolsters executive team in post-scandals restructure

Promised change in wake of LCF and Connaught reports

Mike Sheen
FCA chief executive Nikhil Rathi makes his mark on the regulator

FCA chief executive Nikhil Rathi makes his mark on the regulator

The Financial Conduct Authority (FCA) has bolstered its executive team with four new hires as part of a planned overhaul in response to last year’s damning reports into the regulator’s handling of the London Capital & Finance (LCF) and Connaught fund scandals.

In December the FCA promised a raft of "significant and necessary changes" following the publication of the independent reports, which revealed significant failures in the regulator's handling of the multi-million pound scandals. Chief executive of the FCA Nikhil Rathi, who joined the regulator in October, said at the time that the reports had made "sobering reading", and he is "committed to implementing the recommendations and lessons learned". FCA hands £3.4m back to unauthorised investment scheme victims As part of the restructure, the regulator has now hired Stephanie Cohen as ...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now


Already an Investment Week


More on Regulation

Wiggins took the role after his departure from abrdn just five months after the launch of its MyFolio Sustainable fund range.

Joe Wiggins departs St James's Place

Just over a year in role

James Baxter-Derrington
clock 11 August 2022 • 1 min read
Kelly Hagg joins Nuveen from Janus Henderson

Nuveen poaches from Janus Henderson for new head of responsible investing

Newly-created role

clock 11 August 2022 • 1 min read
The main risk warning rules come into force on 1 December 2022, with the remainder landing on 1 February 2023.

FCA warns alternative investment firms of increasing scrutiny

New risk warning rules due in December

clock 10 August 2022 • 2 min read