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FCA issues court warnings over ‘unfair’ use of insolvency law

The FCA has told firms it expects to be informed as soon as a firm is considering a scheme of arrangement or other compromise to manage liability and set out the information it should receive.

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Firms using insolvency or company law to manage their liabilities have been warned they could face court action by the FCA if their proposals “unfairly” benefit them at the expense of their customers.

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