Head of financial watchdog defends performance after critical report from MPs - Financial Conduct Authority chief executive Nikhil Rathi has defended the organisation after the report by MPs and peers.

The boss of the UK's financial watchdog has said criticism from MPs that it has failed to reform after years of scandal is "not fair". Nikhil Rathi, chief executive of the Financial Conduct Authority, said it is "tackling financial crime... on a scale that has never been done before in the UK".

Head of financial watchdog says critical report is not fair - Financial Conduct Authority chief executive Nikhil Rathi as defended the organisation after the report by MPs and peers.