The Claims Management Regulator (CMR), Financial Conduct Authority (FCA), Financial Ombudsman Service (FOS) and Financial Services Compensation Scheme (FSCS) have issued joint guidance for firms on how to deal with claims management companies (CMC),...
The Ministry of Justice (MoJ) will be given the power to fine claims firms which use information gathered by unsolicited calls and texts or who provide poor quality services.
Novia has warned its users that basic errors like failing to use a client's full ISA allowance could lead to legal action from increasingly aggressive claims management companies (CMCs).
The Association of Professional Financial Advisers (APFA) has urged the Ministry of Justice (MoJ) to investigate Claims Management Companies (CMCs), which it thinks are increasingly manufacturing claims.
The current Financial Services Compensation Scheme (FSCS) funding strategy is 'unsustainable' and poses a threat to both advisers and consumers, according to Tenet.
The Association of Independent Financial Advisers (AIFA) has called for claims management companies (CMCs) to be regulated by the Financial Conduct Authority (FCA).
Two marketers acting on behalf of claims management companies have been fined £250,000 by the Information Commissioner's Office, in the first case of its kind.
The Financial Services Compensation Scheme (FSCS) will be able to make small claims payouts without even investigating the eligibility of claimants, under rules confirmed by the Financial Services Authority (FSA).
The Building Societies Association (BSA) has backed the decision to bring claims management companies (CMCs) under the umbrella of the Legal Services Ombudsman, but wants it to publish complaints data like the financial Ombudsman.