FIN.

FCA to regulate claims management companies

It was also confirmed in the background notes to  the Queen’s Speech that the Financial Guidance and Claims Bill  will be brought forward to progress plans previously announced for:

  • FCA to take over the regulation of claims management services. Among other things it will have power to cap fees CMCs charge. FOS will have responsibility for handling complaints that relate to claims management; and
  • a new single financial guidance body.

Emma Radmore