UK Supreme Court to rule on motor finance commissions on August 1
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UK Supreme Court to rule on motor finance commissions on August 1
Britain’s Supreme Court will give its long-awaited ruling on motor finance on August 1. The ruling could lead to the introduction of a multi-billion pound compensation scheme.
LONDON, July 25 (Reuters) – The United Kingdom’s Supreme Court will give its long-awaited ruling on motor finance commissions, which will inform a potentially multi-billion pound consumer redress scheme, on August 1, the court announced on Friday.
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Britain’s Financial Conduct Authority (FCA) is considering a redress scheme which could leave brokers paying out tens of billions of pounds – and has previously said it will confirm whether to do so within six weeks of the Supreme Court’s ruling.
Reporting by Sam Tobin; editing by William James
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