Context
The FCA has written to the Supreme Court encouraging it to make a speedy decision on whether to allow an appeal by two of the lenders in relation to the Court of Appeal judgement in this case. The FCA’s desire is that every stakeholder can get on with whatever repercussions the eventual Court decision produces.
Key points to note and next actions
The FCA, in effect, is saying to the Supreme Court that:
- Two of the lenders have made an application to appeal the Court of Appeal’s judgement;
- They have told the FCA about that application to be allowed to appeal;
- They have also told the FCA that they’ve asked the Supreme Court, officially, to make the soonest possible decision about whether they can appeal or not (the ‘request for expedition’)
- The FCA supports the two lenders’ request for the Superme Court to decide as soon as possible about whether they can appeal or not (in the interests of getting to some landing point that can allow all staeholders and affected parties to move forward from); and
- If the Superme Court allows the appeal, can the appeal be heard as soon as possible please.
This ‘support’ from the FCA could be a necessary or desired legal process, but it sets out clearly the FCA’s position as regulator (it wants the soonest possible outcome, one way or the other).