Nikhil Rathi News

Britain’s Treasury chief is travelling to China this weekend to discuss economic and financial cooperation between the countries, as the U.K.‘s Labour government seeks to reset frayed ties with Beijing

In an interview with the FT, FCA chief executive Nikhil Rathi said he is «not convinced» that the sector, which has grown to manage $8trn in assets, presents a systemic threat. This follows a warning from the BoE last week that lenders were not properly measuring their exposure to the sector, as well as previous concerns raised by the central bank relating to private equity's leverage, transparency and valuations.  Bank of England official raises alarm over private equity use of NAV loans as exits slow «What I do think is important is that the [private equity] industry does not nic...

Sarah Pritchard (pictured), is the FCA's executive director of supervision, policy and competition for markets.

'There is going to be more onus on disclosure and that will bring a degree of additional risk into the system, an increasing onus on stewardship of investors when they are making investment decisions.'

FCA CEO Rathi said that, should any evidence against Odey AM appear, the FCA «reserves the right to reopen' the investigation; whereas the investigation into Odey himself 'remains live'.

The Committee said it found the Edinburgh Reforms had so far had “limited impact of the Government’s flagship financial services reform programme”.

Werks – Iron Mountain data centres joint venture has acquired a four-acre land in Ambattur, Chennai, to house two new data centers (CHE-1 and CHE-2) to meet growing customer demand in the region. The two data centers will be built to Tier III standards. They will support 36 megawatts of IT load, further enhancing the company’s rapidly growing pan-India footprint, which will support more than 90 megawatts of new development across the key markets of Pune, Bengaluru, Noida, Mumbai and Hyderabad. “As Chennai is one of India’s most important connectivity hubs, we are thrilled to be building capacity to meet hyperscale, network, content, public sector undertakings and enterprise customer demand,” said Mark Kidd, EVP & Global General Manager, Iron Mountain Data Centers & Asset Lifecycle Management. Chennai is emerging as one of India's fastest-growing data center markets due to its strong interconnection with Singapore and the rest of Asia.

Web Werks and Iron Mountain Data Centers will invest Rs 1,800 crore to set up two data centres in Chennai. The JV has acquired a four-acre parcel of land in Ambattur, Chennai, to house these data centers (CHE-1 and CHE-2). «Joint Venture of Web Werks — Iron Mountain Data Centers will invest more than Rs 1,800 crore to develop two data centres in Chennai. The investment will be made in a phased manner and be fully operational by the mid of 2025,» Web Werks Data Centers founder and CEO Nikhil Rathi said in a statement on Monday.

FCA CEO Nikhil Rathi noted the regulator had observed the rapid growth of the private markets, as well as the use of leverage in the private equity sector in particular.

'This guidance will help ensure firms can take decisive and appropriate action against employees for [non-financial misconduct].'

The UK's Financial Conduct Authority (FCA) has initiated talks between banks and crypto firms experiencing difficulties in accessing banking services, according to a recent report addressing the issue of debanking in the country.

The Financial Conduct Authority

The FCA said it welcomes the National Audit Office’s review.

The Financial Conduct Authority has delayed publishing its ESG labelling regime until the end of the year.

The Financial Conduct Authority

Nikhil Rathi, CEO of the FCA

The City watchdog said it has been in touch with the police as part of its investigations into Crispin Odey and his London-based hedge fund Odey Asset Management.

While the investigations were opened in mid-2021, Rathi said the regulator had been engaged in “intensive” supervision of Odey AM since 2020. | PA Images / Alamy Stock Photo

The Financial Conduct Authority reached its 10th birthday on 1 April. It's been quite the ride, including for the man at the top of the markets watchdog, Nikhil Rathi.

Dozens of staff at the Financial Conduct Authority worked deep into the night over recent weekends as the UK's markets watchdog raced to mitigate the fallout from this year's banking crises.

“I didn’t want to be a CEO that came in and just talked about doing things,” Nikhil Rathi says, reflecting on his two-and-a-half years in charge of the Financial Conduct Authority.