Fair value not a Trojan Horse for price regulation, says FCA boss Nikhil Rathi

The onus on firms to satisfy themselves about fair value under the Consumer Duty is “not a Trojan horse for price regulation”, according to Nikhil Rathi, CEO of the Financial Conduct Authority.

“We do not want to regulate prices, just as we don’t want to restrain profits for well-run businesses,” Rathi, pictured, told the audience at the Morgan Stanley European Financials conference today.

“Indeed, firms which deliver the outcomes in the Consumer Duty well should have a competitive edge.”

The message echoed that delivered by the FCA’s executive director of consumers and competition, Sheldon Mills, in 2022. At the British Insurance Brokers’ Association’s conference that year, Mills had

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