Santander UK delays Q3 results amid FCA motor finance consultation
By Iain Gilbert
Date: Wednesday 29 Oct 2025
(Sharecast News) - Financial services firm Santander UK said on Wednesday it would delay publication of its third-quarter results, citing uncertainty around the Financial Conduct Authority's proposed redress scheme for historical motor finance commission arrangements.
The FCA published a consultation paper earlier in the week following the Supreme Court's August ruling on Discretionary Commission Arrangements. Santander UK said it was reviewing the proposals in detail, noting that the regulator's approach differed in key respects from the court's judgment and that the legal basis for the relevant period remained unclear.
Santander UK said it would provide further updates alongside its fourth-quarter results, once there was greater clarity on the scope, methodology and timing of any redress scheme.
Santander UK added that, based on its initial assessment, even in a severe downside scenario, it did not expect any increase to existing provisions to have a material impact on its capital, liquidity, operations or financial condition.
Santander UK's chief executive, Mike Regnier, said: "We believe that the level of concern in the industry and market is such that material changes to the proposed FCA redress scheme should be an active consideration for the UK Government. Without such change, the unintended consequences for the car finance market, the supply of credit and the resulting negative impact on the automotive industry and its supply chain could significantly impact jobs, growth and the broader UK economy. This could also cause significant detriment to the consumer.
"While the FCA considers the outcome of its consultation, we believe it is our duty to do all we can to secure an orderly and fair outcome from this consultation process. This is not a question of investor versus customer interest, quite the reverse. What is at stake is the supply of credit that customers need and that supports a very important sector for the economy."
As of 0900 GMT, Santander shares were up 1.33% at 761p.
Reporting by Iain Gilbert at Sharecast.com
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