0 £0.00
This item was added to your basket
Credit Strategy homepage
LinkedIn
Twitter

Dear visitor,
You are viewing 1 of your 1 free articles


We’ve invested in our content to provide more news, analysis, features, interviews and opinions across a wide range of Credit and Financial Services. Register now to access more of the trustworthy, insightful information that’s on offer.

Register now or Login

FCA places restrictions on motor finance provider

The Financial Conduct Authority (FCA) has imposed restrictions on car finance provider Raedex Consortium, ordering it to stop activities due to “concerns about its finances.”

Share on LinkedInShare on TwittereCard

The requirements will stop Raedex from entering into any new car leases, however all existing leases will remain in place.

 

Raedex is part of an investment scheme where consumers can invest in car leases through Buy 2 Let Cars, which is not authorised by the FCA.

 

In a public statement the FCA said that investors looking to invest in hire cars should not make investments through Buy 2 Let Cars, as the sums cannot be invested in cars which are then leased out.

 

Raedex will be able to continue to trade if it meets the FCA’s threshold conditions. The listed directors on Companies House for Raedex are Reginald Larry-Cole, Scott Andrew Martin, and Stalina Elba.

 

Regulatory activity in the motor finance sector was discussed at the Car Finance Conference’s Regulatory Update, which is available to view on demand here.

Share on LinkedInShare on TwittereCard
Add New Comment
You must be logged in to comment. Login or Register to access enhanced features of the website.

GET THE LATEST INDUSTRY NEWS STRAIGHT TO YOUR INBOX

READ NEXT

Budget 2021: Firms welcome war chest to tackle furlough fraud

Budget 2021: Firms welcome war chest to tackle furlough fraud

SMEs offered flexibility to extend bounce back loans to 10 years

SMEs offered flexibility to extend bounce back loans to 10 years

How to get paid in a perfect storm – a masterclass for credit managers

How to get paid in a perfect storm – a masterclass for credit managers

Upcoming events

Credit Strategy
LinkedIn page

Member of

Did you find our website useful?

Thank you for your input

Thank you for your feedback

creditstrategy.co.uk – an online news and information service for the UK’s commercial and consumer credit industry. creditstrategy.co.uk is published by Shard Financial Media Limited, registered in England & Wales as 5481132, Axe & Bottle Court, 70 Newcomen St, London, SE1 1YT. All rights reserved. Credit Strategy is committed to diversity in the workplace. @ Copyright Shard Media Group