The FCA's Conflict of Interest in Car Loans Scandal The Financial Conduct Authority (FCA) has long been the gatekeeper of financial regulation in the UK, but its latest move in the car loans scandal raises questions about its own impartiality.
The regulator is urging judges to dismiss a string of legal challenges brought by Consumer Voice, which alleges that the consumer group's co founders have not been transparent about their funding and potential conflicts of interest.
The FCA's history with the financial industry it regulates has been marked by a willingness to water down regulation in favor of protecting the interests of big banks and lenders.