Claims management regulation

Introducing claims management regulation

This overview is a guide to the Financial Services content within the claims management subtopic, with links to the appropriate materials.

FCA regulation of claims management companies—essentials

The Financial Conduct Authority (FCA) is the regulator of claims management companies (CMCs) established or serving customers in England, Wales and Scotland. At the same time, the Financial Ombudsman Service (FOS) has responsibility for resolving complaints about CMCs. This Practice Note provides information on the FCA’s regulation of CMCs, the FCA’s authorisation process and ceasing regulated claims management activities; the FCA’s supervisory approach to CMCs, and the parts of the FCA Handbook applicable to CMCs including:

•
CMCOB—including lead generators, ongoing information requirements, prudential requirements for CMCs
•
CASS—safeguarding client money
•
DISP—complaints handling by CMCs

It further considers reporting requirements and periodic fees, and provides historical information on the transfer of the regulation of CMCs from the Claims Management Regulation Unit within the Ministry of Justice to the FCA in April 2019.

For further detail on client money requirements, see Practice Note: Client money requirements in relation

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

TAKE A FREE TRIAL

Latest Financial Services News

ECB outlines drive to simplify supervision and clarify regulatory expectations for banks

The European Central Bank (ECB) has published a speech by Frank Elderson, Member of its Executive Board and Vice-Chair of the Supervisory Board, delivered at the ECB and European University Institute Banking Governance High-Level Seminar ‘Board of the Future’. The speech outlines the ECB’s efforts to simplify the supervisory framework for banks while maintaining resilience and provides clarity on how regulated firms should distinguish between binding regulatory rules, supervisory expectations, and good practices.

OFSI updates UK Financial Sanctions FAQs

The Office of Financial Sanctions Implementation (OFSI) has updated its UK Financial Sanctions FAQs, adding FAQs 170 and 171 relating to the recently published Legal Services General Licence INT/2025/7323088. FAQ 170 explains the key changes introduced by the licence and their implications for law firms, legal advisers, counsel and providers of expenses. FAQ 171 clarifies that the licence permits fee payments to be made from abroad into UK bank accounts or certain non-UK bank accounts, provided all licence conditions are met. Additionally, FAQs 54 and 76 have been moved to the withdrawn FAQs document.

EU BMR – Commission adopts amended RTS for benchmark administrator applications

The European Commission has adopted a delegated regulation which amends regulatory technical standards (RTS) laid down in Delegated Regulation (EU) 2018/1645 as regards the form and content of an application for recognition with the European Securities and Markets Authority (ESMA) and in Delegated Regulation (EU) 2018/1646 as regards the information to be provided in an application for authorisation and registration under the EU Benchmarks Regulation (EU BMR).

FCA publishes quarterly whistleblowing data 2025 Q3

The Financial Conduct Authority (FCA) has published quarterly data on whistleblowing reports received between July and September 2025, and existing reports closed during that period. The FCA received 405 new reports in the period, up from 315 in Q2 and 322 in the same period last year. The top concerns raised included fitness and propriety, organisational culture, compliance, the Consumer Duty, and consumer detriment. Of the 356 reports closed this quarter, 40% prompted direct supervisory engagement and 5% led to significant harm-reduction actions such as enforcement, skilled person reviews, or restrictions.

View Financial Services by content type :

News