Managers and firms in firing line as FCA reins in restructuring schemes

By Neasa MacErlean

TheFCA will challenge restructuring schemes in court or use its regulatory powersin cases where customers are unfairly disadvantaged. The regulator warnedpension transfer schemes against using the insolvency law in this way inDecember, and now says that it is seeing “an increase in the number of firmsdeveloping proposals, such as Scheme of Arrangements, to deal with significantliabilities to consumers”.