Concerns over claims management firms raised by City regulator
by Vicky Shaw
Feb 15, 2024
3 minutes
Some claims management companies (CMCs) have inadequate systems in place to differentiate between regulated and unregulated activity, the City regulator has said.
The Financial Conduct Authority (FCA) said some firms had charged significantly higher fees for unregulated claims.
The FCA published a review into CMCs carrying out unregulated claims activity. It was concerned that consumers may mistakenly assume that all the services CMCs offer come within its regulation.
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