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claims management companies

Displaying items by tag: claims management companies

Tuesday, 05 December 2023 14:14

FOS plans to charge CMCs for bringing cases

The Financial Ombudsman Service is considering charging Claims Management Companies fees of up to £650 per case to help cut down on the tide of speculative claims that can clog up the service.

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The FCA began regulating the claims management industry from today. 
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The FCA has revealed more than 600 so-called ‘ambulance chaser’, or claims management companies (CMCs), have registered with the authority.
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The FCA is set to take over regulation of claims management companies and estimated the cost to be in the region of £17m.
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The Financial Conduct Authority has today published its draft rules outlining how it plans to regulate claims management companies (CMCs) when it takes over their regulation from 1 April 2019.
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The AMPS conference in London yesterday featured a warning on the increasing proliferation of  ‘ambulance chaser’ companies seeking to press claims against SIPP providers.
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