Claims Management Companies - part three

•Threshold Conditions - Firms required to meet minimum 

  standards.

•1 Jan – 31 Mar 2019 – apply for temporary permission

•Application Period 1 – All Fin Ser CMC + Scotland only Firms (1 

  April – end May 2019)

•Application Period 2 – All other CMC – Personal injury / housing 

 disrepair (1 June – end July 2019)

•Brady review – preventing Phoenixing by defunct CMC

•6 / 12 Month timescale for approvals - complete / incomplete 

  applications.

The Consultation Paper published by the FCA is inviting comments by 22nd October 2018.

CMC that are currently Authorised by the Claims Management Regulator will need to reapply for authorisation.  

Solicitors that are currently authorised to carry out legal activities by the Solicitors Regulatory Authority will not need to apply and will continue to be regulated by the SRA.

Compliant Solutions Limited - experts in helping Financial Services Businesses deal with the business challenges of Financial Conduct Authority Compliance - for help contact ian@compliantsolutions.co.uk

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