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Inside the FCA’s wild year: ‘I have never worked in such an unhappy place’

Financial News tells the definitive story of 12 months that rocked the regulator

The FCA has embarked on an ambitious ‘transformation programme’ under the leadership of Nikhil Rathi
The FCA has embarked on an ambitious ‘transformation programme’ under the leadership of Nikhil Rathi Photo: Getty Images

The Financial Conduct Authority has had a rough year. Talk of a morale crisis, an outcry over proposed changes to pay, and staff looking for the exit has never been far from the headlines.

The situation reached such a fever pitch that in December, a group of British lawmakers called on FCA employees to speak up about their experiences after receiving a desperate plea for scrutiny of the agency.

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