FCA: CMCs can now register for temporary permission to continue operating
Regulatory Updates | 10/01/19
Claims management companies (CMCs) can now register for the temporary permission they’ll need to operate when the Financial Conduct Authority (FCA) takes over regulation from April 2019.
From April 2019, all CMCs set up or serving customers in England, Scotland and Wales will have to be authorised by the FCA to continue operating legally. Some claim managers, including CMCs that are incorporated in Scotland, and only serve Scottish customers, will be entering regulation for the first time.