The Financial Conduct Authority's chief executive, Nikhil Rathi, has called on investors to rethink the risks and opportunities in private markets, adding "it is high time to reset our narrative".
In his speech delivered at the Investment Association annual dinner on Tuesday (29 October), the FCA CEO questioned whether the starting point for investors should be "to worry about growing private markets creating risks outside the banking system". The other option, according to Rathi, would be "to focus on the opportunity to unlock capital for infrastructure and growth". "It is time to reset our narrative. But not in a way that is oblivious to risk," he said, urging for data transparency, which could "build a system-wide picture of risks, and to be clear about who owns them". FC...
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