FCA chief Nikhil Rathi vows to protect consumers through 'hyper vigilance'
We will continue to embed competitiveness throughout our regulatory approach but it is vital that there is no compromise on consumer protection or market integrity, he said in a speech.
Nikhil Rathi, the chief executive (CEO) of Financial Conduct Authority (FCA) on Thursday (27) evening delivered an address in which he spoke about the role of the FCA in a changing regulatory landscape.
Speaking at Lord Mayor's City Banquet at Mansion House, he highlighted the body's shifting approach and commitment to "hyper vigilance" to shield the consumer, including through its new Consumer Duty rules.
Rathi emphasised that change begins at the top and that an "upfront effort from firms should mean fewer rules down the line".
Cheering the diversity that the British society has embraced in the recent times, including choosing a British-Asian prime minister and a mayor of the capital city from a British-Asian background and how it helps businesses or large organisations, Rathi said, "Sam Woods of the Prudential Regulation Authority and I have both spoken about the importance of diversity and inclusion and we are leading joint work on this with industry.
"We know this work matters for good conduct and risk management. As those of us who have run businesses or large organisations know, allowing the best talent to rise to the top also matters crucially for our competitiveness."
Speaking on the "tide of unprecedented challenges", Rathi said his two-year tenure at the FCA saw the company rising to the challenge tirelessly. "I am proud of how my colleagues have consistently risen to the challenge," he said.
"When I became CEO during Covid, FCA colleagues made sure millions of consumers received enhanced forbearance from lenders and secured over £1.5 billion in business interruption insurance payments for businesses," he said, adding, "All the while the markets we oversaw proved resilient, paving the way for record capital raising to support recovery."
Speaking on how they dealt with challenges such as Brexit transition, Covid-19 pandemic, and the ongoing crisis in Ukraine, Rathi said they managed the end of the Brexit transition phase in end 2020 and aimed at replacing emergency pandemic measures with "longer-term, tailored support".
They were also working closely with the UK government, international partners and firms to carry out sanctions at an extremely short notice days after the Ukraine war started while keeping the core markets operational.
It was also during this period when the FCA was fundamentally reoriented.
"Our three-year strategy published earlier this year holds us to account for the first time against specific outcomes and metrics," the CEO said.
"We have bolstered our senior leadership, promoting our top internal talent and bringing in commercial, operational and international experience.
"We have made difficult reforms to our pay and rewards to focus more on collective and individual performance, support career mobility within the FCA and lay the ground for substantial expansion in Leeds and Edinburgh," said, adding that they were attracting more than 1,000 colleagues in the current year.
Rathi said his company now has greater willingness to take more legal risk, to intervene earlier, and to test its powers to the limits.
"This has included the first criminal case against a bank for money laundering failings, securing tens of millions under our consumer redress powers, and imposing the first account forfeiture order," he said, adding that FCA is investing in and deploying technological solutions to improve efficiency.
The FCA leader also talked about the growing cost of living, saying it has been precipitated by the pandemic and war. He said they already have started engaging with lenders to ensure that they were treating customers properly and stay more vigilant to protecting vulnerable consumers.
"Our survey last week of 19,000 people shows that more expect to struggle in the months ahead. Nearly eight million people are finding paying for the basics a heavy burden – that is 2 and a half million more than last year," he said.
"We remain ever more vigilant to actors preying on consumers’ vulnerabilities and are intervening at our fastest pace ever against problematic financial promotions, eight times more interventions year to date compared to last year."
He said FCA has also finalised the Consumer Duty through its new strategy and it puts the onus on firms to put good results at the heart of their products and services.
Through our new strategy we also have finalised our Consumer Duty – which puts the onus on firms to put good outcomes at the heart of their products and services.
Both leaders reaffirm commitment to India-US partnership
Trade talks resume in New Delhi amid tariff tensions
India defends purchase of discounted Russian oil
US PRESIDENT Donald Trump on Tuesday called Indian prime minister Narendra Modi and greeted him ahead of his 75th birthday. The phone call sparked hopes of a reset in India-US ties, which had been under strain after Washington doubled tariffs on Indian goods to 50 per cent.
In a social media post, Modi said that like Trump, he is also "fully" committed to taking the India-US comprehensive and global partnership to "new heights."
"Thank you, my friend, President Trump, for your phone call and warm greetings on my 75th birthday," Modi wrote on X. "Like you, I am also fully committed to taking the India-US Comprehensive and Global Partnership to new heights. We support your initiatives towards a peaceful resolution of the Ukraine conflict."
Thank you, my friend, President Trump, for your phone call and warm greetings on my 75th birthday. Like you, I am also fully committed to taking the India-US Comprehensive and Global Partnership to new heights. We support your initiatives towards a peaceful resolution of the… — Narendra Modi (@narendramodi) September 16, 2025
Trump praises Modi
Trump said Modi is "doing a tremendous job" and thanked him for supporting his efforts to end the war in Ukraine.
"Just had a wonderful phone call with my friend, Prime Minister Narendra Modi. I wished him a very Happy Birthday! He is doing a tremendous job," Trump said on Truth Social. "Narendra: Thank you for your support on ending the war between Russia and Ukraine."
The call came a day before Modi’s 75th birthday and was the first since the US imposed 50 per cent tariffs on India.
Trade talks in New Delhi
The call coincided with a new round of India-US talks in New Delhi on a proposed bilateral trade agreement.
A spokesperson at the US embassy said: "Assistant US Trade Representative Brendan Lynch had a positive meeting in Delhi with his counterpart Ministry of Commerce and Industry special secretary Rajesh Agrawal on September 16 to discuss next steps in bilateral trade negotiations."
Tariffs and tensions
The phone call followed social media exchanges between the two leaders in recent days, which indicated intent to rebuild ties.
Relations had been strained after the Trump administration doubled tariffs on Indian goods to 50 per cent, including a 25 per cent additional duty on India’s purchase of Russian crude oil. India described the action as "unfair, unjustified and unreasonable."
In recent weeks, several Trump administration officials, including White House trade adviser Peter Navarro, used offensive language while criticising India’s energy ties with Russia.
India defends Russian oil purchases
India has maintained that its energy procurement is based on national interest and market factors. It turned to Russian crude offered at discounted prices after Western sanctions on Moscow following its invasion of Ukraine in February 2022.
Ongoing trade negotiations
The fresh round of trade talks came after Modi responded to Trump’s recent remarks on addressing "trade barriers."
Trump had said he looked forward to speaking with Modi in the "upcoming weeks" and expressed confidence that both sides could finalise the proposed deal.
Modi has said India and the US are natural partners and that both sides are working to conclude the negotiations.
In the past few months, several rounds of talks were held, but a deal could not be reached due to differences in areas including agriculture and dairy.
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Forecasters say 30–40mm of rain is likely to fall widely
Two yellow weather warnings issued for parts of Wales and the Midlands
Up to 70mm of rain expected, bringing risk of flooding, power cuts and travel delays
Flood alerts in place for rivers in Cumbria, Devon, Cornwall and Carmarthenshire
Residents advised to prepare emergency kits and stay updated with forecasts
Heavy rainfall set to cause disruption
The Met Office has issued two yellow weather warnings covering parts of Wales and the Midlands today, with forecasters warning of potential flooding, travel disruption and power cuts. Between 6am and 11am, persistent downpours are expected to sweep eastwards, bringing nearly a month’s worth of rain in just a few hours.
Areas under warning
South and southwest Wales are expected to be worst affected, with Ceredigion, Conwy, Gwynedd and Powys in the Midlands also on alert. In Wales, warnings apply to Blaenau Gwent, Bridgend, Caerphilly, Cardiff, Carmarthenshire, Merthyr Tydfil, Neath Port Talbot, Powys, Rhondda Cynon Taf, Swansea and the Vale of Glamorgan.
Rainfall and flood risks
Forecasters say 30–40mm of rain is likely to fall widely, with some southwest-facing hills facing totals of 50–70mm. The Met Office has cautioned that flooding of homes and businesses is possible, while spray and standing water could make journeys hazardous. Public transport, including bus and rail services, is also likely to be affected.
Flood alerts already in place
Flood alerts have already been issued in parts of Cumbria, including along the River Greta and River Derwent near Keswick, where nearby campsites face risk. In the southwest, alerts are in force for the Exmoor rivers in Devon and the Upper River Tamar on the Devon-Cornwall border. Natural Resources Wales has issued further alerts for rivers in Carmarthenshire, Llanelli, Llangennech, Pwll and Burry Port.
Public advice and emergency preparation
The Met Office has urged residents in affected areas to prepare a flood plan and consider assembling an emergency kit. Recommended items include torches, spare batteries, a mobile phone power pack and essential supplies in case of power cuts. Officials stress the importance of checking travel updates and staying informed, as weather warnings can change quickly.
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Donald Trump and Melania Trump exit Air Force One after arriving at London Stansted Airport for a state visit on September 16, 2025 in Stansted, Essex.
Trump begins his second state visit to the UK with a royal welcome at Windsor Castle
Prince William, Catherine, King Charles and Queen Camilla take part in ceremony
State banquet and trade talks with prime minister Keir Starmer scheduled
Protests and security operation mark visit amid political challenges
US PRESIDENT Donald Trump began his unprecedented second state visit to Britain on Wednesday with a lavish welcome from King Charles and the royal family at Windsor Castle.
The visit opened with heir to the throne Prince William and his wife Catherine greeting Trump and First Lady Melania Trump, before King Charles and Queen Camilla joined them for a carriage procession through the grounds of Windsor Castle. A wreath was laid on the tomb of Queen Elizabeth, who died in 2022.
UK officials said the visit involves the largest military ceremonial welcome for a state visit in living memory, with 1,300 troops, 120 horses, a military band ceremony, and a flypast by US and British F-35 fighter jets alongside the Royal Air Force’s Red Arrows display team.
Trump, who has often expressed admiration for the British monarchy, said on arrival: “A lot of things here warm my heart.” He described Charles, who is undergoing cancer treatment, as “my friend.” Earlier this year, Trump had written on social media, “I Love King Charles.”
The day will conclude with a white-tie state banquet at Windsor Castle, where Trump and King Charles are expected to deliver speeches.
prime minister Keir Starmer will host Trump on Thursday at Chequers for talks on trade, investment, and international issues including Ukraine and Gaza.
Britain is seeking to deepen economic ties and build on a new technology pact covering AI, quantum computing, and civil nuclear energy. Microsoft has pledged 31 billion pounds ($42 billion) in UK investments.
“Basically, I’m there also on trade. They want to see if they can refine the trade deal a little bit. We made a deal, and it’s a great deal. And I’m into helping them,” Trump said before departing for Britain. “They’d like to see if they could get a little bit better deal, so we’ll talk to them.”
The visit comes at a time of political challenges for Starmer, who last week dismissed UK ambassador to Washington Peter Mandelson over links to the late Jeffrey Epstein. Trump has also been linked to the Epstein scandal, which he has called a “hoax.”
The issue resurfaced on Tuesday night when protesters projected images of Trump and Epstein onto Windsor Castle. Police said four people were arrested for malicious communications over what was described as an unauthorised projection stunt.
A large security operation is in place for the visit, with 1,600 officers deployed in London to manage planned protests.
Trump is the first US president and the first elected politician to be invited for two state visits by a British monarch.
The 11th UK National Gatka Championship was hosted near Cardiff, marking the first time in Wales.
Winners included Roop Kaur (girls), Navjot Singh (boys), and Gurdeep Singh (men’s).
Gatka Federation UK awarded £1,000 to each participating Akhara to support martial arts promotion.
Chief guests included MP Tanmanjeet Singh Dhesi and Harjeet Singh Grewal, President of the World Gatka Federation.
Gatka Championship marks Welsh debut
The 11th UK National Gatka Championship concluded on a high note near Cardiff, Wales, showcasing the traditional Sikh martial art with flair. Seven leading Gatka Akharas participated, thrilling spectators with their lightning-fast strikes, precision moves and elegant techniques.
Inauguration by global leaders
The tournament was inaugurated by Harjeet Singh Grewal, President of the World Gatka Federation (WGF) and the National Gatka Association of India (NGAI). He was joined by Tanmanjeet Singh Dhesi MP, President of Gatka Federation UK, alongside other dignitaries including Jagbir Singh Jagga Chakar, President of Wales Kabaddi Club, and community leaders from the Haveli Hotel Pontyclun.
The 11th UK National Gatka Championship concluded on a high note near Cardiff, WalesUK Parliament
Competition results
All events were held in the Farrie-Soti (individual) format:
Girls’ Category: Roop Kaur (Akali Phoola Singh Gatka Akhara Coventry) won first place, defeating teammate Manroop Kaur. Rihanna Kaur (Baba Banda Singh Gatka Akhara Gravesend) took third.
Boys’ Category: Navjot Singh (Baba Fateh Singh Gatka Akhara Woolwich) secured first place against teammate Jashan Singh. Dharam Singh and Tejveer Singh (both from Akali Phoola Singh Gatka Akhara Coventry) shared third.
Men’s Category: Gurdeep Singh (Jangi Horses Club Wolverhampton) claimed the title, defeating Kuldeep Singh (Baba Banda Singh Gatka Akhara Gravesend). Third place was shared by Anmoldeep Singh and Nihal Singh (both Baba Mitt Singh Gatka Akhara Wolverhampton).
Awards and recognition
All winners received medals and trophies. In a significant gesture, Gatka Federation UK presented £1,000 to each participating Akhara to strengthen training facilities and promote wider engagement in the sport.
Leaders praise UK’s Gatka growth
Harjeet Singh Grewal commended MP Tan Dhesi for his sustained efforts in promoting Gatka since 2013, pledging WGF and NGAI’s continued support in advancing the martial art across Britain.
In his address, MP Dhesi — also Chairman of the House of Commons Defence Committee — highlighted the growing enthusiasm among young people in the UK and thanked the Gurdwara committees of Swansea and Cardiff for their support in making the event a success.
Dignitaries in attendance
The championship was attended by prominent figures including Herman Singh Johal (General Secretary, Gatka Federation UK), representatives from Swansea and Cardiff Gurdwara committees, media partners from Akaal Channel, Sikh Channel, Jan Shakti News, and several community leaders.
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The site, located in Gujarat, houses hundreds of elephants, as well as 50 bears, 160 tigers, 200 lions, 250 leopards, and 900 crocodiles. (Photo: Instagram/Vantara)
AN INDIAN Supreme Court-ordered investigation has cleared a large private animal facility run by the son of Asia’s richest man, rejecting allegations of wildlife violations.
Vantara, described as the “world’s biggest wild animal rescue centre,” is operated by Anant Ambani, son of Reliance Industries chairman Mukesh Ambani.
The site, located in Gujarat, houses hundreds of elephants, as well as 50 bears, 160 tigers, 200 lions, 250 leopards, and 900 crocodiles, according to India’s Central Zoo Authority.
Last month, the Supreme Court asked a panel led by retired judges to examine allegations of unlawful acquisition of animals, including elephants, and possible violations of wildlife laws and money laundering. The court acted after receiving petitions based on media reports and complaints by wildlife groups.
Wildlife activists had raised concerns about the facility, saying it was keeping endangered species next to a large oil refinery without plans to reintroduce them into the wild.
The panel’s report, presented in court on Monday, said the “allegations rest wholly on conjecture and surmises on secondary reporting, and activist commentary.” It added, “The complaints are, therefore, devoid of merit.”
In March, German newspaper Süddeutsche Zeitung reported that Vantara imported about 39,000 animals in 2024, including from the Democratic Republic of Congo, the United Arab Emirates, and Venezuela. According to the centre, dozens of elephants were also transported from across India in specially adapted trucks.
The probe report said “each of the imports has undergone multi-layered and multi-jurisdictional verification.”
The Supreme Court accepted the findings, saying it had “no hesitation in accepting the conclusion so drawn in the report.” It added, “We are more than satisfied that the facilities at Vantara in certain respects exceeds the prescribed standards.”
Vantara welcomed the outcome. “With utmost humility and gratitude, we welcome the findings of the Special Investigation Team (SIT), appointed by the Hon’ble Supreme Court of India. The SIT's report and the Hon’ble Supreme Court’s order have made it clear that the doubts and allegations raised against Vantara’s animal welfare mission were without any basis. The validation of the truth by the distinguished and widely respected members of the SIT is neot just a relief for everyone at Vantara but also a blessing, because it allows our work to speak for itself."
"We take this occasion to pledge our solidarity with the Government of India, State Governments, and all other stakeholders involved in the huge and challenging task of animal care, and affirm that Vantara will always be ready to work in close collaboration with them. Let’s together make Mother Earth a better place for all living beings,” the facility said in a statement.