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”.
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This article was originally published by The Guardian and written by Kalyeena Makortoff Banking correspondent.
Read original article on The Guardian