FCA boss Nikhil Rathi tells boards to fight corporate raiders in court
Britain's top City enforcer, Nikhil Rathi, has rejected claims that the Financial Conduct Authority, which he leads, was missing in action during the assault by American corporate raider Boaz Weinstein on Britain's investment trusts.'It's up to the boards to command the confidence of their shareholders and win votes if they wish to carry through their resolutions,' he told The Mail on Sunday in a wide-ranging interview. 'That's the foundation of company law in the UK.' Mounting a defence: Nikhil Rathi has rejected claims that the Financial Conduct Authority was missing in action during the assault by Boaz Weinstein on Britain's investment trustsHe advised investment trusts to use the courts to repel raiders if they had issues with them, such as Weinstein's Saba Capital, which last week reached an exit deal with Herald and Aberdeen investment trusts.'If boards think that something is vexatious, they should test their rights in court,' he said.DIY INVESTING PLATFORMSAJ BellAJ BellEasy investing and ready-made portfoliosHargreaves LansdownHargreaves LansdownFree fund dealing and investment ideasinteractive investorinteractive investorFlat-fee investing from £4.99 per monthFreetradeFreetradeInvesting Isa now free on basic planTrading 212Trading 212Free share dealing and no account feeAffiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.Compare the best investing account for you
Share or comment on this article:
FCA boss Nikhil Rathi tells boards to fight corporate raiders in court
