FCA New Approach to Claims Management Regulation – St Pauls Chambers

‘In April 2019, the FCA (Financial Conduct Authority) became the new regulator of Claims Management businesses (CMCs). At the same time, the Financial Ombudsman Service became responsible for resolving customer disputes about CMSs. In June 2018, the FCA issued a consultation paper (CP 18/15) which proposed a new Claims Management: Conduct of Business Sourcebook [CMCOB] and to apply relevant parts of the existing FCA Handbook.’

Full Story

St Pauls Chambers, 28th November 2019

Source: www.stpaulschambers.com

Third party funding agreements are not DBAs – Hardwicke Chambers

‘The Competition Appeal Tribunal (“CAT”) has today (28 October 2019) handed down its decision in the Trucks Cartel claims dealing with the funding of the claims.’

Full Story

Hardwicke Chambers, 28th October 2019

Source: hardwicke.co.uk

High Court backs former Claims Direct boss over £21m claim – Legal Futures

Posted September 4th, 2019 in breach of trust, claims management, fiduciary duty, fraud, news by sally

‘Colin Poole, the former chief executive of Claims Direct and a struck-off solicitor, has won a High Court battle with shareholders over an alleged £21m debt.’

Full Story

Legal Futrues, 4th September 2019

Source: www.legalfutures.co.uk

Regulator considers cap on fees charged by personal injury CMCs – Legal Futures

Posted June 25th, 2019 in claims management, fees, financial regulation, news, personal injuries by sally

‘The Financial Conduct Authority (FCA) is to explore whether to use its power to cap the fees charged by personal injury claims management companies (CMCs), it has emerged.’

Full Story

Legal Futures, 24th June 2019

Source: www.legalfutures.co.uk

Pension code of practice updated as industry cracks down on scammers – OUT-LAW.com

Posted June 12th, 2019 in claims management, codes of practice, complaints, fraud, news, ombudsmen, pensions by tracey

‘The updated Pensions Scam Industry Group (PSIG) code of practice (107 page / 2.6MB PDF) includes a number of changes, such as guidance designed to help trustees and providers deal with claims management companies and updates on how to notify the UK’s fraud reporting centre Action Fraud of scams.’

Full Story

OUT-LAW.com, 10th June 2019

Source: www.out-law.com

Payday lenders being ‘bombarded’ by spurious claims – The Guardian

‘Compensation claims management firms looking for the next big earner after the PPI scandal have been accused of bombarding the much-criticised payday lending sector with complaints that are often spurious and sometimes without the knowledge of borrowers.’

Full Story

The Guardian, 10th June 2019

Source: www.theguardian.com

Payday loan complaints reach five year high – BBC News

‘Complaints against payday lenders have soared to a five year high, the industry watchdog has said.’

Full Story

BBC News, 15th May 2019

Source: www.bbc.co.uk

CMC censured over ‘all birth injuries caused by negligence’ claim – Litigation Futures

‘The Advertising Standards Authority (ASA) has upheld a complaint against a claims management company whose advertising implied that birth injuries were only caused by medical negligence.’

Full Story

Litigation Futures, 1st May 2019

Source: www.litigationfutures.com

Change in regulation of claims management companies – OUT-LAW.com

Posted January 9th, 2019 in claims management, financial regulation, insurance, news by sally

‘The Financial Conduct Authority (FCA) will become responsible for the regulation of claims management companies in Great Britain from April this year in a move broadly welcomed within the insurance sector. Legislation implementing the reforms provides some details on how the new regime will work.’

Full Story

OUT-LAW.com, 7th January 2019

Source: www.out-law.com

Landmark jail sentence for man who stole client data for CMCs – Legal Futures

Posted November 14th, 2018 in claims management, computer crime, data protection, news, sentencing by sally

‘A man who passed on thousands of an accident repair company’s customer records to claims management companies has been jailed in a landmark prosecution.’

Full Story

Legal Futures, 13th November 2018

Source: www.legalfutures.co.uk

Temperature starts to rise ahead of Civil Liability Bill debate – Legal Futures

Posted August 30th, 2018 in bills, claims management, insurance, news, personal injuries, small claims by sally

‘The rhetoric is heating up ahead of the second reading of the Civil Liability Bill in the House of Commons next week, with the Motor Accident Solicitors Society (MASS) and Association of British Insurers (ABI) both speaking out yesterday.’

Full Story

Legal Futures, 30th August 2018

Source: www.legalfutures.co.uk

Big CMCs to be hit hardest as FCA seeks £17m – Legal Futures

‘The big claims management companies (CMCs) will be hit hardest by fee increases planned by the Financial Conduct Authority (FCA) to fund the £17m cost of their new regulatory regime, it has emerged.’

Full Story

Legal Futures, 23rd August 2018

Source: www.legalfutures.co.uk

SRA outlines new concerns around holiday sickness claims – Legal Futures

‘More types of poor conduct by claimant solicitors in the holiday sickness market have been uncovered, their regulator has warned.’

Full Story

Legal Futures, 10th August 2018

Source: www.legalfutures.co.uk

FCA unveils beefed-up regulatory regime for claims management companies – Legal Futures

Posted June 6th, 2018 in claims management, consultations, financial regulation, news by tracey

‘The Financial Conduct Authority (FCA) has set out the more stringent regime it intends to apply to claims management companies (CMCs) when it takes over their regulation on 1 April 2019.’

Full Story

Legal Futures, 6th June 2018

Source: www.legalfutures.co.uk

Aktas v Adepta and the difficulty of applying to strike out “second” claim forms – Zenith PI

Posted March 8th, 2018 in appeals, civil procedure rules, claims management, news, striking out by tracey

‘The decision of the Court of Appeal in the cases of Aktas v Adepta [2010] EWCA Civ 1170 sets a demanding test for Defendants seeking to strike out “second” Claim Forms where service of a “first” Claim Form has failed.’

Full Story

Zenith PI, 5th March 2018

Source: zenithpi.wordpress.com

Government presses ahead with cold-calling ban despite criticism of approach – Legal Futures

Posted February 7th, 2018 in claims management, news, personal injuries, telecommunications by tracey

‘The government yesterday rejected criticism that its proposed ban on cold-calling did not go far enough and voted it into the Financial Guidance and Claims Bill.’

Full Story

Legal Futures, 7th February 2018

Source: www.legalfutures.co.uk

Rebuke for law firm that paid £215,000 for referrals from unauthorised CMC – Legal Futures

Posted January 31st, 2018 in claims management, fees, law firms, news, personal injuries by sally

‘A north-west law firm has been rebuked after paying more than £200,000 to an unauthorised claims management company for personal injury (PI) referrals.’

Full Story

Legal Futures, 31st January 2018

Source: www.legalfutures.co.uk

Government accused of “pulling its punches” over PI cold-calling ban – Legal Futures

‘The government was accused yesterday of “pulling its punches” and “shilly shallying” over introducing a ban on cold-calling for personal injury (PI) claims.’

Full Story

Legal Futures, 23rd January 2018

Source: www.legalfutures.co.uk

Lord Keen: Greater involvement by CMCs “beneficial” for personal injury market – Legal Futures

Posted January 17th, 2018 in claims management, news, personal injuries by sally

‘Justice minister Lord Keen said today that if the government’s personal injury reforms lead to greater involvement by “good” claims management companies (CMCs), it could be “beneficial” for the market.’

Full Story

Legal Futures, 16th January 2018

Source: www.legalfutures.co.uk

Judge dismisses disclosure bids ahead of £126m credit hire trial – Law Society Gazette

Posted January 16th, 2018 in claims management, consumer credit, disclosure, documents, law firms, news, privilege by tracey

‘The High Court has refused both sides permission to inspect other parties’ documents ahead of a high profile £126m civil case over inflated credit hire charges.’

Full Story

Law Society Gazette, 16th January 2018

Source: www.lawgazette.co.uk