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FCA to strengthen headcount with new offices in Leeds, Belfast and Cardiff

FCA to strengthen headcount with new offices in Leeds, Belfast and Cardiff

The Financial Conduct Authority is seeking to extend its influence across the whole of the UK, opening an office in Leeds with at least 100 staff recruited in the first phase and doubling its headcount in Edinburgh to over 200 in the next two years.

The commitment comes as part of the regulator's new Business Plan for 2021/22.

At present the FCA has offices in London and Edinburgh. Alongside the new hires in Leeds and Scotland, the FCA will also establish a presence in Belfast and Cardiff for the first time by the end of the year.

The Business Plan sets out the key areas of focus for the FCA in the coming year.

In consumer markets, priorities include strengthening rules on financial promotions to protect consumers in relation to investments, and progressing proposals for a new Consumer Duty to raise standards in firms’ treatment of consumers.

The regulator says it will spend £120 million on its data trolling capabilities over the next three years with the aim of being more proactive and acting faster to root out abuses.

Ceo Nikhil Rathi says: “Over the next 18 months you will continue to see an FCA that looks and feels even more different. One that operates differently, partners differently, and communicates differently.

“There is a lot of work to do. And I am confident that we have the right strategy, the right people and the right ambition to do it.”

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