| Link(s): | FCA statement on Supreme Court motor finance announcement | FCA Announcement from UK Supreme Court – UK Supreme Court |
Context
The FCA has welcomed the swiftness of the Supreme Court’s decision to hear an appeal against the Court of Appeal’s judgment in three recent motor finance cases involving Close Brothers and FirstRand Bank.
Key points to note and next actions
- The FCA previously wrote to the Supreme Court (PDF) asking it to decide quickly whether it will give permission to appeal and, if it does, to determine the substantive appeal as soon as possible.
- The FCA is considering whether to formally intervene in the case to share its expertise to assist the Court on the substantive appeal.
- The Supreme Court said the appeal would be heard in early 2025