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Claims Management Services

Treasury written question – answered on 25th July 2019.

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Photo of Kevin Brennan Kevin Brennan Shadow Minister (Digital, Culture, Media and Sport) (Arts and Heritage)

To ask the Chancellor of the Exchequer, what plans he has to regulate complaints made by claims management companies on behalf of complainants on the same basis as independent and other financial advisors, banks and building societies.

Photo of Rishi Sunak Rishi Sunak The Chief Secretary to the Treasury

The Financial Conduct Authority (FCA) has taken over regulation of claims management companies (CMCs). The FCA rules mean CMCs must meet the same basic standards as other FCA-regulated firms on conduct, as well as additional CMC-specific rules.

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