FCA Cannot Prevent Virus-Linked Bankruptcies, Chief Says

Law360, London (November 10, 2020, 1:58 PM GMT) -- The Financial Conduct Authority said on Tuesday that it cannot protect the finance companies it supervises from going bust during the coronavirus pandemic, as the crisis continues to batter the economy.

The regulator's role is not to rescue all banks and insurers from failing during the COVID-19 crisis, FCA Chief Executive Nikhil Rathi said. But the City watchdog has a central role in helping the domestic economy recover, Rathi said.

"We cannot stop some of the firms that are under FCA oversight from failing. We are not, nor should we be, a zero-failure regulator," Rathi said in an FCA podcast published...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!