Treasury Committee
15 July 2026
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Treasury Committee Actual start House of Commons
21:51 - 23:17
Speaker 1
Order, order. Welcome to the Treasury Select Committee on Wednesday the 15th of July 2026.
Today we're having one of our regular sessions with the Financial Conduct Authority on their work, and particularly focusing on consumer issues. And delighted to welcome the Chief Executive of the Financial Conduct Authority, Nikhil Rathi. He's joined by Ashley Alder, who's the Chair of the Financial Conduct Authority, and Sarah Pritchard, who's the Deputy Chief Executive of the Financial Conduct Authority. But before we begin today's evidence session, I want to acknowledge that the dates for hearing the case in relation to the Financial Conduct Authority motor finance scheme have been announced by the Upper Tribunal, which means this case is subject to the sub judice resolution in Parliament.
While I recognize that it is important that the facts of the case and the arguments on either side are not discussed in this room today, I am nonetheless convinced that a wider discussion about the motor finance compensation scheme is in the public interest and we are the place where this happens in Parliament. So following consultation with Mr. Speaker, I have decided to waive the sub judice rule so that the compensation scheme can be discussed in today's hearing. So that and of course as as witnesses and members we are operating under parliamentary privilege, but we need to be just mindful of those facts. And so on that very subject, I'm going to ask Bobby Dean MP to kick off. Mr. Dean, over to you.
23:17 - 23:42
Speaker 2
Thank you, Chair. Yeah, and appreciating the boundaries that have been set, I feel it'd be remiss of me not to mention the reported war of words that has been going on. The FCA said to call the carmakers' claims absurd and say that they're equivalent to arguing for foxes guarding the henhouse. And it seems that Consumer Voice have been questioned for their independence and integrity in this case.
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