Nikhil Rathi has been reappointed for another five-year term as head of the Financial Conduct Authority (FCA), marking the first time a leader has received a second term since its creation in 2013. His tenure has been characterized by significant reforms aimed at easing regulatory burdens to stimulate economic growth, including changes to mortgage lending limits and contactless payment thresholds. Rathi’s leadership aligns with the UK government’s push for enhanced competitiveness, despite facing criticism over FCA’s handling of financial complaints and regulatory enforcement.