Britain's FCA to publish motor finance redress plan on March 30

LONDON, March 24 (Reuters) - Britain's Financial Conduct Authority (FCA) will update the market on March 30 about its plans for a multi-billion pound redress package for consumers affected by mis-sold motor finance, the regulator's chief executive said on Tuesday.

Nikhil Rathi told a parliamentary committee that the FCA would set out its approach to one of the country's most expensive mis-selling scandals shortly after markets close.

The FCA last October proposed an 11 billion pound ($14.74 billion) deal, accusing the industry of inadequately disclosing both commissions paid by lenders to motor dealerships and ties between lenders and dealerships that it said encouraged brokers to charge more for car loans over a 17-year period to 2024.

($1 = 0.7463 pounds)