Gina Miller slams FCA's 'scandalous' compensation review

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

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...