A response to FCA deadline extension
05/11/2025
Commenting on the Financial Conduct Authority’s decision to extend the motor finance commissions consultation deadline until 12 December, Shanika Amarasekara, CEO of the Finance & Leasing Association, said, “The FCA’s decision to extend the consultation is a step in the right direction.
“This issue warrants a considered process, and while nine weeks is still short for such a complex and consequential proposal, it’s an improvement on the original six. Customers who rely on the largest point-of-sale market in the consumer credit sector deserve a considered process that leads to a robust redress scheme.
“A six-week consultation would not have delivered that, and a badly designed remedy risks creating new problems rather than resolving old ones."
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