Context
The FCA’s CEO Nikhil Rathi delivered his speech at City Week 2022.
Key points to note
The speech is split into ten sections:
- Last 12 months
- Cost of living crisis
- New Consumer Duty
- Action on Russia
- Economic, Social and Governance (ESG) reforms
- Diversity and Inclusion
- Accountability and performance
- Innovation and crypto
- Post-Brexit- Mr Rathi made particular note of the TPR here- with the Temporary Permissions Regime (TPR) coming to an end more firms are approaching the FCA with their plans. For businesses focussed in the UK, this will usually mean they want to set up an FCA authorised subsidiary. Where firms are not predominantly focused on the UK, and where the FCA have good cooperation with the home state regulator, a branch may be appropriate.
- Facing the future
Next actions
None – for information and awareness