‘Transformation’ at the regulator

The FCA’s transformation programme will“fundamentally change” the way the organisation works, according to its newCEO. So how does that affect regulation and the work of compliance officers? Neasa MacErlean investigates.

What is the transformation programme?

This is the refocusing and restructuringscheme at the Financial Conduct Authority, which looks likely to characteriseNikhil Rathi’s tenure as CEO. While Andrew Bailey, Martin Wheatley and otherpredecessors in the role were seen as decision-makers-in-chief, Rathi isdesigning an organisation that will make decisions more independently of itsleader.