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Displaying items by tag: ambulance chasers

Wednesday, 15 May 2019 10:55

SIPP complaints double - spurred by CMCs

Complaints Management Companies (CMCs), now regulated by the FCA, have spurred a big jump in SIPPs complaints with the number almost doubling to 3,811 in the last financial year, up from 2,000 in 2017-2018.
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Experts have cautiously backed a new regulation regime which will see the FCA oversee claims management companies (CMCs), so called ‘ambulance chasers’, but say there is no time for complacency.
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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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Thursday, 22 November 2018 11:47

Special Report: SIPPs face up to ambulance chasers

The SIPP sector is facing up to a growing threat from ‘ambulance chasers’ – litigation claims firms trying to encourage clients to make complaints.
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Xafinity SIPP Services has reported strong annual growth with assets under administration hitting £2bn but warns that the SIPPs sector is standing on a “precipice.”
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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 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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