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The Financial Conduct Authority (FCA) has published a further statement on the legal challenges relating to its proposed motor finance compensation scheme.
The update confirms that the FCA continues to monitor developments closely and is considering the implications of the ongoing legal process for firms and consumers. The regulator has also reiterated that it remains committed to providing clarity on the operation and timing of the proposed scheme.
The FCA stated that further information will be provided as matters progress and has encouraged firms and consumers to continue following updates through its dedicated motor finance webpages.
Further details are available via the FCA website: Legal challenges to motor finance compensation scheme - update for firms and consumers | FCA
