Law360, London (February 22, 2021, 12:12 PM GMT) -- Britain's finance watchdog has ordered a car finance company to cease all its activities and told it not to enter into any new leasing agreements with consumers, citing concerns about the firm's finances.
The Financial Conduct Authority said that Raedex Consortium Ltd., a motor finance provider that allows consumers to take out leases on cars through another, unregulated company, Buy 2 Let Cars Ltd, must stop trading. The watchdog said it had "concerns" about the company's finances, but did not give specific information about the reasons for the restrictions.
"The requirements will stop Raedex from entering into any new car leases. However,...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!