The Financial Conduct Authority (FCA) has created a data room during the consultation period for the Motor finance consumer redress scheme.
The data room gives access to some of the underlying data, modelling and analysis the FCA used in its work on the proposed redress scheme. Firms may want to review the data and assumptions the FCA has used so they can respond to the consultation from an informed position.
The data room is specifically intended to help firms and stakeholders understand the FCA’s approach to how consumer loss has been assessed.
Access is controlled. It is available only to those stakeholders who:
- are skilled in reviewing large volumes of data and modelling; and
- will use the data solely for the purpose of understanding and responding meaningfully to the consultation.
If a firm (or individual) wishes to access the data room, they must email the FCA at [email protected]. Before access is granted, individuals will be required to sign a confidentiality agreement.
The data room is not provided so individual firms can calculate their own redress liabilities, firms will need to calculate this from their own data.
The FCA plans to publish its policy statement and final rules by early 2026; the scheme would launch then, with consumers starting to receive compensation before end 2026.
