UK FCA confirms motor finance redress scheme timing

JD Supra Finance & Banking

Published April 2nd, 2026

Detected April 2nd, 2026

Summary

The UK Financial Conduct Authority (FCA) has published a statement confirming the timing of its announcement on the motor finance redress scheme. The FCA consulted on the scheme in October 2025 and indicated proposed changes in March 2026. The FCA stated it intends to set out its approach shortly after markets close on Monday 30 March.

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What changed

The FCA has confirmed timing for its announcement on the motor finance redress scheme, following a consultation launched in October 2025. On 4 March 2026, the FCA indicated it was proposing several changes to the planned scheme. The FCA's statement confirms it will set out its approach shortly after markets close on 30 March.

Firms involved in motor finance should monitor for the FCA's announcement of its final approach to the redress scheme. The actual scheme details, including scope and any compensation calculations, will be contained in the forthcoming announcement. Firms should review their existing processes and potential exposure in preparation for the scheme becoming operational.

What to do next

Monitor for FCA announcement on motor finance redress scheme details
Review motor finance arrangements for potential redress exposure
Prepare internal processes for potential compensation calculations once scheme parameters are announced

Source document (simplified)

April 2, 2026

UK FCA Confirms Timing Of Announcement On Motor Finance Redress Scheme

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The UK Financial Conduct Authority (FCA) has published a statement confirming the timing of its announcement on its planned approach to the motor finance redress scheme, initially consulted on in October 2025. The statement follows an earlier FCA announcement on 4 March, in which it indicated that it was proposing to make several changes to the planned scheme. The FCA states that it intends to set out its approach shortly after markets close on Monday 30 March.

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