FCA to make 100 hires to stop 'bad firms' achieving authorisation

Unveiling the FCA's 2021/21 business plan on Thursday (15 July), Rathi (pictured) told delegates: "While oversight continues through the regulatory lifecycle, it starts at the gateway.  "If you let a bad firm or individual into the system, it takes up the time of supervisors and enforcers, and it risks the savings, livelihoods and health of consumers." The CEO warned attendees that one decision at the start of authorisation, i.e. not letting those firms in, could prevent many risks. To help prevent said risks, Rathi said the regulator plans to recruit about 100 additional authorisa...