Market integrity in a digital age
Speech by Nikhil Rathi, FCA chief executive at the Corporation of the City of London’s annual City Dinner, Mansion House. The success of the UK’s financial servicesIn August, flight cancellations left my sons and I with an extra day in Boston. A Red Sox game, perhaps?No, the Rathi boys – naturally – headed straight to…the Museum of American Finance.Funded by industry, the museum celebrates the role of finance in American life.Illuminating the powerful benefits of informed risk taking.Three sceptical boys engrossed for nearly 2 hours. I quite enjoyed it too.It struck me though how right George Bernard Shaw was: Britain and America are 2 countries separated by a common language.On this side of the pond, we’re perhaps more reserved, embarrassed even, talking about why finance matters.Yet there’s plenty to cheer.We are the world’s biggest cross-border banking, foreign exchange (FX) and derivatives trading centre. We’re second in investment management … And our commercial insurance sector has doubled in size over a decade…A financial services sector built on trust and one the whole United Kingdom should be proud of… Even more so as new technologies, so many owing to our research base, t
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