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Claims management companies entered FCA regulation on 1 April

Publish date: 05 April 2019
Issue Number: 65
Diary: CompliNEWS
Category: General

The UK's Financial Conduct Authority (FCA) on Monday 1 April 2019 began regulating the claims management industry. All claims management companies (CMCs) in England, Scotland and Wales will now have to demonstrate they meet and maintain minimum standards set by the FCA. All existing and new CMCs will need to apply to the FCA for authorisation.

Read more here

Working Smart

By Lee Rossini

In the current environment, fee transparency is a defining characteristic of a trustworthy and sustainable business. Clients are informed, cautious, and demanding about understanding what they are paying for. Transparency is both a regulatory requirement and a commercial imperative. Businesses that clearly explain their charges and value proposition are more likely to build long-term trust, strengthen client relationships, and differentiate themselves in a competitive market.