FCA CEO flags 'uphill battle' on financial inclusion

UK’s advice and guidance market ‘does not work well’

Jen Frost
clock • 2 min read

Financial Conduct Authority (FCA) CEO Nikhil Rathi has called for a tackling of “root causes” of financial exclusion and a need for experimentation.

Speaking at Stepchange Connected 2024 in Leeds on Thursday (19 September), Rathi said that without a "sustained commitment" to numeracy and financial and digital literacy, the UK faces an "uphill battle" on financial inclusion. Rathi pointed to a financial education report issued by the Education Select Committee under the previous government, in which submissions unanimously argued that English schools' financial education was "inadequate" and in need of urgent improvement. "[This is] a problem amplified by 40% of school leavers not passing GSCE Maths this year, and one in seven 16-2...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

'Risk aversion' from FCA and PRA limiting UK growth and competitiveness

'Risk aversion' from FCA and PRA limiting UK growth and competitiveness

Regulators 'constraining firms', House of Lords report claims

Patrick Brusnahan
clock 13 June 2025 • 2 min read
FCA targeted support communication to 'ramp up' as further guidance issued

FCA targeted support communication to 'ramp up' as further guidance issued

Regulator expected to update the industry this month

Isabel Baxter
clock 09 June 2025 • 5 min read
FCA joins forces with international regulators on illegal finfluencer crackdown

FCA joins forces with international regulators on illegal finfluencer crackdown

Nine regulators from across the globe come together

Isabel Baxter
clock 06 June 2025 • 3 min read