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FCA turns to external lawyers to help with staffing crisis
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fnlondon.comThe UK’s Financial Conduct Authority is recruiting private law firms and headhunters to help process applications, amid almost twice its typical number of staff vacancies after an employee outcry over pay.
The FCA has experienced significant upheaval since the appointment of chief executive Nikhil Rathi, including an unpopular consultation on fresh pay and conditions for its roughly 4,200 staff. The watchdog has struggled with rising workloads during the pandemic and after Brexit, causing a backlog across several areas.
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