FCA sets out plans for regulation of claims management companies

Regulatory Updates | 05/06/18

The FCA has published  consultation paper (CP) 18/15, outlining how it will regulate claims management companies (CMCs) when regulation passes to the FCA on 1 April 2019. The CP sets out the draft rules and guidance the FCA proposes to make in relation to claims management activities. It explains how the FCA proposes to authorise and supervise firms and the steps it will take if CMCs breach FCA rules. The consultation closes on 3 August 2018, with a policy statement expected in Q4 2018.