FCA issues ‘Dear CEO’ letter to CMCs

Last week, the Financial Conduct Authority (FCA) issued a ‘Dear CEO’ letter to all Claims Management Companies under their remit. The regulator reminded CMCs about drivers of consumer harm and reiterated their expectations of CMCs around a number of areas including financial promotions and adverts, sourcing of customers, failures in investigating the merits of each element of potential claims and the current poor attitude to regulation by some firms.

Source: FCA