Gina Miller slams FCA's 'scandalous' compensation review

'Intellectually dishonest and... contrary to the law'

David Brenchley
clock • 2 min read

Campaigner Gina Miller has slammed the Financial Conduct Authority's (FCA) review of the compensation scheme for victims of financial loss resulting from regulatory failure as "scandalous".

Miller said the FCA had quietly launched a consultation of the scheme that guards consumers against failure by the UK's financial regulators over the summer. In an open letter to the Treasury Select Committee, Miller said the proposals put forward by the FCA amounted to a flimsy new compensation scheme that was "intellectually dishonest, morally questionable and, from our understanding, contrary to law". Regulation Blog: Chancellor's tax plans could drive private equity out of UK - reports She argued that the short eight-week consultation period contravened the Government's Princip...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

Trustpilot