
S&U chair on Supreme Court decision; sees growth after FCA redress clarity
05/08/2025
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S&U PLC (LSE:SUS) chairman Anthony Coombs talked with Proactive's Stephen Gunnion about the implications of the recent Supreme Court decision and the FCA’s initial guidance on motor finance redress. Coombs welcomed what he described as a “sensible and very balanced” ruling, which he said supports both customers and regulatory fairness.
He explained that Advantage Finance, S&U’s motor finance subsidiary, has never used discretionary commission arrangements — the practice at the centre of recent scrutiny. Instead, the company uses non-discretionary commissions, paying the same rate to brokers regardless of customer profile or deal size.
“We didn’t think it was right,” Coombs said of DCA commission models. “We didn’t think it was in the customer’s interest.”
He added that based on the criteria set out by both the Supreme Court and the FCA, S&U does not expect the redress scheme to impact Advantage Finance.
Looking ahead, Coombs said the ruling should reinforce market confidence and provide a stable foundation for regulatory expectations. He noted that S&U is already seeing a significant uptick in business activity, with more details expected in the upcoming trading statement.
Coombs also highlighted concerns about the role of claims management companies, which he said have imposed unnecessary costs across the industry and are now rightly being scrutinised.
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#MotorFinance #SAndU #AdvantageFinance #SupremeCourtRuling #FCA #DiscretionaryCommissions #FinancialRegulation #UKFinance #ClaimsManagement #InvestorUpdate
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