FCA Dear CEO letter to Claims Management portfolio firms

Regulatory Updates | 26/10/20

The Financial Conduct Authority (FCA) has published a Dear CEO letter sent to the heads of firms in its Claims Management portfolio. The letter sets out the FCA’s view of the key areas that pose a risk of harm to consumers or the markets in which claims management companies (CMCs) operate, outlines its expectations on CMCs including how they should mitigate these harms, and describes the FCA’s supervisory strategy and programme of work.

The FCA states that its particular areas of focus in the next two years will be complex, high value financial claims, personal injury CMCs, and PPI firm wind-downs.