Boss of City regulator accused of threatening consumer group over £9.1bn car loan scheme
FCA chief, Nikhil Rathi, warned of ‘adverse consequences’ if challenge made to settlement, court filings allegeThe boss of the UK’s financial regulator is accused of threatening a consumer group with...
By Kalyeena Makortoff Banking correspondent · The Guardian World
FCA chief, Nikhil Rathi, warned of ‘adverse consequences’ if challenge made to settlement, court filings allege The boss of the UK’s financial regulator is accused of threatening a consumer group with “adverse consequences” if it blocked a £9.1bn compensation scheme meant to settle the motor finance scandal . Legal documents reviewed by the Guardian said the alleged comments by the Financial Conduct Authority (FCA) chief executive, Nikhil Rathi, amounted to “an inappropriate intervention by a public official”. Continue reading...