FCA begins regulating CMCs
Regulator aims to drive up standards in the sector as more than 900 claims management companies apply for authorisation.
The Financial Conduct Authority (FCA) has begun regulating the claims management industry from today (1 April).
All claims management companies (CMC) in England, Wales and Scotland will now have to demonstrate that they meet and maintain minimum standards set by the regulator.
The FCA added that all CMCs will need to apply to the watchdog for authorisation.
Permission
According to the regulator more than 900 CMCs have registered for temporary permission to continue operating while they go
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