FCA staff strike over pay

WORKERS at the City watchdog were due to strike today for the first time in the regulator’s history.

Financial Conduct Authority (FCA) staff will walk out for 48 hours, after which they will be putting in only their contracted hours.

The row erupted last year when changes to pay were announced by chief executive Nikhil Rathi. Until now, the FCA has given performance bonuses to staff every year, worth around 10 to 12 per cent of their salary.

Under the changes, most will get an average 7pc more in base pay this year and 12pc over the next two years, with the lowest paid and strongest performers pocketing the most.