FCA publish second letter of concerns in relation to Provident’s proposed scheme of arrangement

Industry News | 20/07/21

The FCA published a second letter of concerns setting out why it does not support Provident’s proposed scheme of arrangement. Despite the FCA’s concerns, it does not plan to formally oppose the scheme in court. This is because in this case, the only likely alternative to a scheme is the insolvency of Provident Personal Credit Limited.

Source: FCA