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New rules for claims management firms from today - MSE News

Former_MSE_Naomi
Former_MSE_Naomi Posts: 519 Forumite
Second Anniversary First Post I've been Money Tipped! Newshound!
in Reclaim PPI & other insurance
Unhappy customers who have used claims management firms will be able to escalate their complaints to the financial ombudsman from today, as the sector will now be regulated by the Financial Conduct Authority...
Read the full story:
'New rules for claims management firms from today'
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Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    If anyone wants to make a complaint about a claims company, I will be happy to post their complaint for them, for 20% plus VAT of any compensation.
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
    Eighth Anniversary 10,000 Posts Name Dropper Photogenic
    With the deadline for PPI complaints now only five months away, this is the epitome of slamming the door after the horse has already bolted.

    However, it's still to be applauded that it's finally happened..
  • dunstonh
    dunstonh Posts: 119,545 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    CMCs are in for a shock. The FCA is far harder than the Legal Ombudsman. Although it usually takes many many years for the FCA to catch up with bad companies.

    Sadly, the FCA are only going to be light touch regulating them.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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