Source : INDIA TODAY NEWS
The UK’s Financial Conduct Authority (FCA) has appointed Sabina Saini as its new financial services attache to India as part of the regulator’s global expansion plans. Saini, a former FCA manager in the UK, began the role last week and is based at the British Deputy High Commission in Mumbai.
The appointment comes alongside the naming of Darine Obeid as the FCA’s new financial services attache to the United Arab Emirates, based at the British Embassy in Abu Dhabi. The regulator said the appointments are aimed at advancing the UK’s financial services interests and helping drive investment into the UK.
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“Our new financial services attaches in India and the UAE will advance the UK’s interests on financial services policy and help drive investment into our open market,” said Ruairi O’Connell, FCA Director – International. “The FCA’s global network is vital to delivering across all parts of the FCA strategy. Just as the UK is a global financial services centre, the FCA is a globally connected regulator and international leader in financial regulation,” he said. “Our new presence will help us and our counterparts in India and the Gulf do even more together,” he added.
The FCA regulates the UK’s financial markets and thousands of financial services firms, holding them to account. It said the new appointments are meant to expand its global presence, joining existing attaches in Washington DC, Brussels and Singapore, as well as in the Asia-Pacific, to support international cooperation, exports and investment into the UK.
An independent public body funded by fees charged to regulated firms, the FCA makes rules and issues guidance and standards, detects market-wide harm and puts remedies in place through market studies, and authorises or registers financial firms and individuals. In 2023, it also took on the objective of facilitating the international competitiveness and growth of the UK economy in the medium to long term.
“We look forward to delivering our vision for the future with all our partners, and as we become a smarter regulator – supporting growth, helping consumers and fighting crime,” Nikhil Rathi, the Indian-origin chief executive of the FCA, said in the regulator’s 2025-2030 strategy.
Saini previously led work on the UK’s critical third parties regime and wider operational risk and resilience policy. According to the regulator, she has just under 20 years of experience across financial regulation, audit and banking, with a focus on prudential supervision and risk. Before joining the FCA in 2024, she spent more than eight years at the Bank of England in roles covering resolution policy, supervision and audit. Overall, the appointments in India and the UAE mark the FCA’s latest move to widen its international network and strengthen cooperation and investment links.
With PTI Inputs
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SOURCE :- TIMES OF INDIA
