The Financial Conduct Authority (FCA) has published new rules that will apply to all claims management companies (CMCs) from April 2019.
That is when the watchdog will be taking over the responsibility for regulating CMCs including in Scotland where they are currently unregulated.
From 1 April all CMCs serving customers in England, Scotland and Wales will have to be authorised by the FCA and meet minimum standards to operate.
The regulator stated that any firm that is not authorised by then
The Insurance Age team unpick the most recent and most popular stories.Subscribe to our daily newsletter for all the latest news
- Markel buys books of business from Caunce O’Hara
- Egan reveals thinking behind RSA's commercial merger
- Jelf rebrand an opportunity for regional brokers, say experts
- The Blog Spot: RIP Jelf, hello Marsh Commercial - what's in a broking brand?
- CRL stops writing new business amid Alpha fallout
- Chris Dobson outlines future plans as he exits Ageas
- Hyperion merges Howden and RK Harrison