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

Regulator accused of anti-consumer behaviour

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...