UK trade body the Finance & Leasing Association (FLA) has hired Jeremy Barton as its first general counsel to help support it navigate a tougher regulatory environment for lenders.
Barton was most recently GC at Big Four accounting firm KPMG UK, before announcing he would step down in December 2023. His return to legal leadership also marks an important step for the FLA, which is seeking to strengthen its legal, regulatory and governance capabilities to better manage the shifting consumer, motor and asset finance landscape.
In the role, Barton will be expected to support FLA members with legal insights while proactively engaging with policymakers and regulators.
Barton’s appointment follows a UK Supreme Court ruling last year that there had been an unfair relationship between certain consumers and motor finance lenders as set out in the Consumer Credit Act because commission arrangements were not disclosed to those consumers.
The Financial Conduct Authority (FCA) has proposed an £11bn consumer redress scheme in response, having launched a consultation in October last year related to qualifying car loans taken out between 2007 and 2024.
The FT reported yesterday (17 February) that the FCA plans to cut up to £1bn from that scheme by exempting carmakers’ in-house finance arms from having to pay compensation to certain customers. That comes amid heavy lobbying from banks and carmakers that the redress scheme risks damaging investment in the UK auto industry, the FT reported. The FCA told the FT it was “carefully considering feedback and decisions on final scheme rules have not been taken”.
The FLA provides member services to lenders active in asset finance, consumer finance and motor finance. In 2024, FLA members provided £156bn of new finance to UK businesses and households and were responsible for financing 80% of private new car registrations in the country.
Shanika Amarasekara, CEO of the FLA, said: “[Barton’s] extensive experience across professional services and his deep understanding of governance and regulatory issues make him an outstanding addition to the team. Jeremy’s insight and steady judgement will be invaluable as we support our members through a rapidly evolving landscape.”
Barton left KPMG after around eight years as the legal head of its UK business, having previously held GC roles at the Boston Consulting Group and EY Global, as well as deputy GC at Andersen Worldwide.
He said: “I am delighted to be joining the FLA at such a pivotal moment for the consumer, motor and asset finance sector. The FLA plays an important role in shaping policy, supporting high standards and representing the industry’s voice. I look forward to working with members and stakeholders to help the sector respond confidently and constructively to regulatory change.”
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