FCA slams claims management companies for making up cases under fictitious names

The Financial Conduct Authority (FCA) has warned claims management companies (CMCs) to clean up their act after it found an increase in problem cases, including those made-up under fictitious names or without customer consent.

The regulator is cracking down on the industry through its Dear CEO letter, highlighting a range of concerns with honesty and integrity of operations a key theme throughout.
Earlier this year the Financial Services Compensation Scheme (FSCS) revealed it has been bombarded by a substantial number of mortgage advice mis-selling claims from one CMC with little or no evidence.

Source: Your Money
GO TO ARTICLE +