Jurisdiction(s):
United Kingdom

UK FCA £8bn motor finance redress: senior manager attestations, disclosure thresholds and judgements, GDPR-era record‑keeping gaps, and enforcement risk post-Johnson

Published on: 10 October 2025

Published by a Law360 reporter

Legal News

Article summary

Holding senior managers to account underpins the FCA’s high-profile redress scheme, which has been out for consultation since 7 October 2025, following an August 2025 UK Supreme Court ruling that a lender acted unlawfully by not revealing a high commission to the broker and a contractual tie. Senior managers at lenders would oversee contacting customers and verifying whether the firm keeps disclosure records on car loans, which, lawyers noted, are frequently absent. The firm must also show it has approached the car dealerships it engaged as loan finance brokers, as well as customers for whom it often holds only limited details.

Senior manager accountability

If these controls fail, the senior managers signing an attestation would shoulder responsibility and could face FCA enforcement action.
The hardest task will be deciding whether the firm provided sufficient disclosure to individuals to avoid redress.
Where a lender concludes disclosure was adequate, it will need to evidence this so the consumer can object, said Nicola Pangbourne, partner at Kennedys...

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