LONDON (Reuters) – Maintaining high regulatory standards and not having a “competitiveness” mandate is the best way to keep Britain a dynamic financial center, the Financial Conduct Authority’s incoming chief said on Wednesday.
Some lawmakers want the FCA to have a competitiveness mandate to keep London a global financial center following Britain’s departure from the European Union, it’s biggest financial services customer.
“I have never been a massive personal fan of it,” Nikhil Rathi told a confirmation hearing in parliament’s Treasury Select Committee.
(Reporting by Huw Jones; Editing by Toby Chopra)
