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Displaying items by tag: cmc

Two-fifths of self-employed people – 41% – are risking an uncertain retirement because they aren’t paying into a personal pension, according to new data from investment platform CMC Invest.

Published in Articles
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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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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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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