Gina Miller calls for FCA chair's resignation over compensation scheme

Regulator accused of anti-consumer behaviour

Pedro Gonçalves
clock • 1 min read
Gina Miller says the FCA is avoiding compensating victims where the regulator was itself at fault

Gina Miller says the FCA is avoiding compensating victims where the regulator was itself at fault

Gina and Alan Miller of the True & Fair Campaign are calling for the resignation of Charles Randell, chair of the Financial Conduct Authority (FCA) over the compensation scheme for victims of financial loss.

The consumer champions claim the FCA has taken "anti-consumer and potentially unlawful steps" in relation to compensating victims. Under the updated FCA's complaints scheme, any compensatory payment should normally be made only in circumstances in which an individual has "suffered a quantifiable financial loss caused solely or primarily by the actions or inaction of the FCA" and that payment will not, "typically", cover the full loss. Gina Miller slams FCA's 'scandalous' compensation review In an open letter to Randell, the Millers say the FCA is avoiding compensating victims where...

To continue reading this article...

Join Investment Week

  • 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


More on Regulation

Majedie Asset Management's Rob Harris

Liontrust share price rises following 'surprise' Majedie Asset Management purchase

Increases Liontrust's AUM to £42.3bn

Lauren Mason
clock 07 December 2021 • 3 min read
Merger and acquisition

R&M share price rockets 13% as Premier Miton and AssetCo eye up deals

R&M already selling one division to shareholders

clock 23 November 2021 • 2 min read
The FCA first warned market participants to prepare for the cessation of LIBOR in 2017

FCA to introduce 'synthetic' LIBOR rates as year-end conversion 'not practicable'

For duration of 2022

Lauren Mason
clock 29 September 2021 • 2 min read