Compliance Insights Articles

Claims Management Firms are now able to register for temporary permission with the Financial Conduct Authority. From April 2019, the FCA will take over regulation of CMCs that serve customers in England, Scotland and Wales and these companies will need to be authorised by the FCA to continue to operate legally. Firms that are currently authorised by the Claims Management Regulator will not automatically be transferred to the FCA. Any Claims Management Firm wishing to operate

The regulation of Claims Management Companies (CMCs) within England, Scotland and Wales is due to change in 2019, with the Financial Conduct Authority taking over regulation from the Claims Management Regulator on 1 April 2019. The Financial Guidance and Claims Act, which became law in May 2018, amends the Financial Services and Markets Act and transfers regulation from the Claims Management Regulator (which was part of the Ministry of Justice) to the FCA, and the complaints