FCA chief ducks committing to investigating Treasury briefings

cityam12-03

Nikhil Rathi, chief executive of the FCA The boss of the City watchdog appeared to skirt committing to investigating Treasury briefings when pressed on the Labour government’s “possible market abuse” ...

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Nikhil Rathi, chief executive of the Financial Conduct Authority, has been lobbied by the Conservatives and other opponents to the Labour government to look into the rogue briefings on the road to the Budget.During a panel at the Financial Times’ Global Banking Summit, Rathi was asked whether the FCA would “look at” the allegations of market abuse. The FCA boss said: “We have had some letters in from MPs, we have a specific remit and we will be replying shortly to that.”","collect":0,"end_time":0,"defaultTopTitle":"cityam.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"FCA":"First Trust China AlphaDEX Fund"},"translate_title":"FCA首席执行官承诺调查财政部简报","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"FCA":1.5},"content_text":"Nikhil Rathi, chief executive of the FCA The boss of the City watchdog appeared to skirt committing to investigating Treasury briefings when pressed on the Labour government’s “possible market abuse” on Wednesday morning. Nikhil Rathi, chief executive of the Financial Conduct Authority, has been lobbied by the Conservatives and other opponents to the Labour government to look into the rogue briefings on the road to the Budget.During a panel at the Financial Times’ Global Banking Summit, Rathi was asked whether the FCA would “look at” the allegations of market abuse. The FCA boss said: “We have had some letters in from MPs, we have a specific remit and we will be replying shortly to that.”\n\nWhen pressed whether the watchdog would commit to “looking into” the briefings “whether it leads to a full investigation or not” Rathi ducked a direct response, stating the FCA would “reply” to the letters. \n\n\n\n\n\n\nNews Updates\nStay ahead with our three daily briefings delivering all the key market moves, top business and political stories, and incisive analysis straight to your inbox.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nShadow Chancellor Mel Stride called for Rathi to investigate potential market manipulation by the government after Rachel Reeves was accused of “misleading” the country over a manifesto-breaking income tax hike, only to weeks later ditch the idea.“Confidential market sensitive information appears to have been spun, leaked and misused – and markets, businesses and families have paid the price,” Stride wrote in his letter.Treasury and OBR spat heats upTensions have continued to flare over the timeline on the road to the Budget, with both No.10 and No.11 Downing Street coming under fire for misleading the country and – as some reports suggest – their own cabinet ministers.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.11","shortVersion":"4.35.11","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2588105890","isCrawlerRequest":true}