From the desk of Kevin Still
The FCA continues to be in the news around their own contract & pay reform. We have previously reported on the potential talent drain. The Unite union which represents staff at the regulator announced on Tuesday 1 February that FCA Unite members had voted by 87% in support of industrial action against proposed cuts to pay and conditions. This doesn’t look a great outcome for regulated firms if this actually proceeds in a very busy 2022 from a regulatory perspective. The next step will be to hold a formal statutory ballot if Nikhil Rathi refuses to come to the negotiating table. Unite has approached the mediation service ACAS in an attempt to resolve the dispute.
I would like to congratulate Darren Bruce on his promotion. He is leaving Retail Lending Supervision and starting a new position as Manager in the FCA Authorisations Division. For those yet to engage with the Authorisation team, he may be a useful contact. I have found him very...
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