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UK judicial review bid over FCA rate-hedging redress program rejected by court

( March 7, 2025, 17:12 GMT | Official Statement) -- MLex Summary: A UK court has dismissed an application for judicial review by a group of lawmakers over the Financial Conduct Authority's handling of its redress program for interest-rate hedging products, or IRHPs. A 2021 independent review by lawyer John Swift, criticized the FCA program, and the All-Party Parliamentary Group on Fair Business Banking said it was "irrational" for the FCA not to take further action after that review. "It was not irrational and not contrary to common law reasonableness to decide to take no further action," a judge in the High Court ruled today.Judgment is attached....

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