Right, so the UK’s Financial Conduct Authority has decided to give Sarah Pritchard a promotion. Deputy chief executive, no less. Apparently, they’re expanding their responsibilities. Digital finance, international policy… sounds thrilling, doesn’t it? 🙄
Pritchard, bless her, joined the FCA back in 2021. She’s keeping her old job – consumer protection, competition, the usual – but now she gets to help Chief Executive Nikhil Rathi run the whole shebang. I bet that’s a laugh a minute. 😂
Oh, and get this: they might lift the ban on crypto exchange-traded notes for retail investors. *Might*. As long as the FCA approves them, of course. Investor protections will remain, they promise. Financial promotion rules and all that jazz. But the ban on crypto derivatives? Still there. So, swings and roundabouts, really. 🤷♀️
FCA remit changes
Apparently, the FCA is now in charge of the Payment Systems Regulator. And they’re shaping the UK’s “future-facing regulatory approach” for digital assets. Whatever that means. Sounds like a headache. 🤕
And because the world isn’t complicated enough, Pritchard’s also supposed to boost the FCA’s “global influence.” Through the G20 and Financial Stability Board. She’s been leading work on leverage in non-bank financial institutions. Honestly, who even knows what that is? 🤷♀️
FCA Chair Ashley Alder said something about “evolving expectations.” And Chief Executive Rathi chimed in about Pritchard’s “track record.” Merging divisions, reforming listing rules… Sounds like a lot of paperwork to me. 😴
So, Pritchard’s new role is all about “continuity in leadership.” But also a “strategic pivot.” Because apparently, finance and crypto are changing. Who knew? 😜
She’s worked in both public enforcement and private sector compliance. So, she’s seen it all, darling. Should be interesting watching her try to regulate crypto and fintech. Good luck with that. 😈
Pritchard herself said she’s committed to “no let up in the pace of change.” The FCA has an “ambitious strategy.” Rebalancing risk, supporting UK competitiveness… All sounds very important. And probably incredibly boring. 😴
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2025-06-10 16:46