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Lookers outlines £10m remedial plan ahead of FCA investigation

Aug 15, 2019 - Marketline Newswire

Car dealership group Lookers has revealed a £10m cash investment as part of a remediation plan following the Financial Conduct Authority (FCA)'s decision to investigate the firm.

The £10m remediation plan will include a detailed review of past business; the establishment of a revised sales process; a full training exercise across the group; establishment of a new risk management and quality assurance framework; and several developments to the group's IT systems. A one-off £7m investme...