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Leaked FCA memo shows bosses seek to quell staff outcry as morale slumps to ‘all-time low’

Its latest staff survey revealed mounting confusion and 'anxiety' over changes proposed by new boss Nikhil Rathi

Under the leadership of Nikhil Rathi since October 2020, the FCA has been grappling with mounting workloads as Brexit gives more powers to UK regulators
Under the leadership of Nikhil Rathi since October 2020, the FCA has been grappling with mounting workloads as Brexit gives more powers to UK regulators Photo: Getty Images

Bosses at the UK’s Financial Conduct Authority are set to hold weekly morale-boosting meetings with employees, after its latest staff survey revealed mounting “confusion” and “anxiety” over changes proposed by new boss Nikhil Rathi.

The 10 members of the FCA’s executive committee will start to meet groups of “up to 25 colleagues from right across the organisation” from September, in a bid to better explain Rathi’s agenda, according to a note to FCA staff posted on the regulator’s intranet and seen by Financial News.

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