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FCA bosses urge dialogue on pay as staff ‘devastated’ at union setback

The regulator has left the door open to a formal request if the required legal thresholds on union membership are reached

The FCA, led by chief executive Nikhil Rathi, confirmed on 17 November it had decided to ‘respectfully decline’ the calls for voluntary recognition
The FCA, led by chief executive Nikhil Rathi, confirmed on 17 November it had decided to ‘respectfully decline’ the calls for voluntary recognition Photo: Getty Images

Bosses at the Financial Conduct Authority have ramped up their efforts to get staff on board with plans to overhaul to pay and perks at the regulator as workers expressed disappointment that management blocked a bid to unionise.

The UK markets watchdog proposed a sweeping restructuring of compensation in a consultation in September. In protest at the changes, staff asked the FCA to recognise Unite as the organisation's union.

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