FOS rejects calls for claims company levies

The CMC industry has grown substantially in recent years as the payment protection insurance (PPI) insurance mis-selling scandal was brought to the public's attention. But advisers have accused some claims companies of targeting them unfairly. In a feedback statement on its consultation on modernising case fee arrangements, the FOS said a "significant minority" of stakeholders were calling for fees and levies to be paid by CMCs. However, although it said it could understand why this should be the case, it has rejected the proposals. "We do not believe that such a requirement wou...