FCA confirms cap on CMC charges

The FCA published a policy statement confirming a proposed cap on CMC fees.

The FCA is introducing new rules from 1st March 2022 to cap the fees consumers can be charged when using a CMC for financial services claims.

To help consumers make better-informed decisions about the value they will get, CMCs will also need to make it clear that consumers have the option to claim for free, as well as providing more information on how their fees are calculated.

Source: FCA