FCA CEO Nikhil Rathi has defended the pay packages of staff - some of whom went on strike this week - as “possibly the best package” among UK regulators.

Unite union members at the Financial Conduct Authority have begun a 48-hour walkout today in a protest over pay, terms and lack of trade union recognition.

The FCA has made three senior hires including a former Goldman Sachs managing director and a new director of competition.

The Financial Conduct Authority (FCA) is getting better at timely consumer interventions, chief executive Nikhil Rathi has told MPs during their probe into the British Steel Pensions Scheme (BSPS) scandal.