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Speech by Dominic Holland, director of market oversight, at the Association of Corporate Treasurers Annual Conference 2025.
Consider a river carving its path through the landscape. It starts as a small stream, gradually gaining strength and direction over time. Its steady progress shapes the world around it.We want our contribution to growing the UK economy to be like that river – quiet, persistent, and impactful.The FCA recently released its 2025 to 2030 strategy. Supporting growth is a key priority for our organisation. Maintaining and harbouring thriving UK capital markets benefits everyone.A report published last year by the Capital Markets Industry Taskforce (CMIT) noted that the UK’s capital markets contribute over £100 billion annually in tax, enough to fund over half the annual budget of the NHS. A staggering statistic. Which makes our role to facilitate this contribution even more important.We are committed to rebalancing risk across the industry which can spur growth. Decreasing regulatory burden is a focus. But not at the expense of consumer protection. There is a balance to be struck, and we need to hear from you to help us make those decisions.We must get the balance correct between these two dynamics. It’s a challenge we are embracing and are excited about.Prior to joining the FCA in 2024, I was on the ‘other side’ in a variety of different roles in capital markets across the world. After spending 15 years at the start of my career as a corporate bond trader, I moved into electronic trading in 2001, playing a key role in the launch of MarketAxess in Europe.I then held several senior electronic markets roles at Barclays, RBC and Deutsche Bank, working closely with trading venues, data vendors and regulators to deliver services to clients of the banks. So corporate treasurers are no strangers to me. Quite the opposite. As former clients of mine, I know the parameters in which you are expected to flourish. I understand the pinch points and frustrations.I want to listen and help to bridge the gap between market participants and the regulator. I have experience of both sides and want to help the UK’s capital markets thrive and develop in a way which is beneficial to all.
https://www.fca.org.uk/news/speeches...sk-fuel-growth