'Problem cases' prompt FCA to threaten to remove CMC cowboys' permissions

'Behaviour of rogues'

Hannah Godfrey
clock • 3 min read

The FCA has written to remind claims management companies (CMCs) of their regulatory obligations after some were accused of poor behaviour and underhand tactics to gather the personal data of advisers' clients, PA can reveal.

The letter, which was sent from the regulator's director of supervision - retail and authorisations Jonathan Davidson and addressed to temporary permissions holders, said failure to comply with its rules could see CMCs have their temporary permissions revoked or have requirements placed on them. "I am writing to remind you of our expectations of CMCs when they carry out financial promotions and/or act for their customers," Davidson wrote. "This is because we have recently seen an increase in problem cases, and want to ensure customers' interests are protected." The Financial Conduct A...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Tessa Lee: The invisible cost of poor client data

Tessa Lee: The invisible cost of poor client data

How can you improve data quality?

Tessa Lee
clock 23 July 2026 • 4 min read
Dean Proctor: Hopes and fears for the new PM and cabinet

Dean Proctor: Hopes and fears for the new PM and cabinet

Stability, simplicity and the chance to do things differently

Dean Proctor
clock 23 July 2026 • 5 min read
Should spousal maintenance be abolished? A modern perspective

Should spousal maintenance be abolished? A modern perspective

Making the case for abolition and retention

Amy Walpole and Karen Brennan
clock 22 July 2026 • 4 min read