FCA keeps motor-finance implementation-plan deadline but waives attestations
Motor finance firms must file implementation plans by 12 May, while formal attestations are no longer due on that date
Change
On May 8, 2026, the UK Financial Conduct Authority kept the May 12 deadline for motor finance compensation scheme implementation plans but said it would not insist on formal attestations by that date.
Why it matters
The legal challenges do not pause implementation planning, so firms still have a near-term supervisory submission to make. The attestation waiver narrows the sign-off requirement at the deadline without removing the plan-submission obligation.
Implications
- — Motor finance lender compliance and programme teams must submit scheme implementation plans by May 12, 2026 ? the FCA has not waived the planning deadline.
- — Motor finance lender senior managers responsible for regulatory attestations must remove the May 12 attestation sign-off from deadline planning ? treating attestations as due on that date misallocates approval work.
Who is affected
- — Motor finance lender compliance and programme teams
- — Motor finance lender senior managers responsible for regulatory attestations
What to watch
- — Deadline: May 12, 2026 ? motor finance compensation scheme implementation plans due; formal attestations not required by that date.