FCA sets out proposals to stop 'particularly egregious' CMC phoenixing
Proposals published today
FCA's Sheldon Mills: “Consumers should be able to choose to use a CMC to help them claim compensation from the FSCS."
The Financial Conduct Authority (FCA) has made plans to stop advisers phoenixing into claims management companies (CMC).
The consultation paper, published on Monday (17 May), outlined its proposals for new rules on CMCs. Claims management company phoenixing occurs when an individual from a wound-up firm re-opens under...
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