Regulatory News 14 October 2026

The Upper Tribunal will hear legal challenges to the FCA’s motor finance compensation scheme in February 2027. Although the scheme is partially suspended, firms must continue preparing.

Separately, Liam Coleman has been appointed permanent chair of the Financial Ombudsman Service for a three-year term, having served as interim chair for the past year.

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FCA News: Motor finance legal challenge to be heard in February 2027

The Upper Tribunal has confirmed it will hear the legal challenges to the FCA’s motor finance compensation scheme in February 2027. The scheme is currently partially suspended. However, firms must continue preparations.

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Date: 13 October 2026

FCA News: Liam Coleman appointed as chair of the Financial Ombudsman Service

The FCA Board has appointed Liam Coleman as chair of the Financial Ombudsman Service, with the approval of the Treasury. Liam took up the permanent role on 10 October for a 3-year term, having served as interim chair for the last year.

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Date: 9 October 2026