New Regulator for Claims Management Companies – FCA takes over

On 22 June 2017, the Financial Guidance and Claims Bill (the Bill) was introduced in the House of Lords.  Since then it has passed through its first and second readings and proceeded to committee stage on 6 September 2017.  The Bill follows an independent review led by Carol Brady in 2016, which recommended that regulatory responsibility for claims management companies (CMCs) be transferred from the Ministry of Justice’s Claims Management Regulation Unit to the Financial…