FCA boss Nikhil Rathi tells boards to struggle company raiders in courtroom
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 trusts
He 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.
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