Non-Standard Finance puts share issue on hold after FCA flags concerns
(Reuters) - Non-Standard Finance PLC <NSF.L> said on Monday that the Financial Conduct Authority (FCA) had raised a number of concerns about its guarantor loans division, prompting it to put on hold plans for a share issue.
The subprime lender said it had now begun an in-depth review after the FCA pointed to possible issues in its operating procedures and processes at the guarantor unit.
Non-Standard Finance said in June that it was considering issuing new equity to bolster its balance sheet after flagging risks to its ability to continue as a going concern due to the impact of the COVID-19 crisis on its lending business.
(Reporting By Rachel Armstrong, Editing by Maiya Keidan)