Santander has delayed publication of its quarterly results after the Financial Conduct Authority published a consultation paper on a proposed redress scheme relating to historical motor finance commission arrangements.

The publication followed a Supreme Court judgment on cases connected to Discretionary Commission Arrangements.

“Santander UK is reviewing the consultation in detail to understand its potential implications noting that the FCA’s proposed approach differs in important respects from the Supreme Court’s ruling, the legal basis for the redress scheme’s relevant period is not clear and it remains at the consultation stage,” it stated.

“There is therefore uncertainty regarding the final scope, methodology and timing of any redress scheme that may ultimately be implemented.”