Qamar Anwar of First4Lawyers looks ahead to the FCA taking over the regulation of CMCs
I have to start this article by paying tribute to Kevin Rousell, head of claims management regulation, who so sadly passed away recently.
Rousell took on a difficult job, under considerable pressure, to deliver the regulation of claims management companies (CMCs), and it is a testament to his hard work that what the Financial Conduct Authority (FCA) will shortly take over is in such good shape. More than that, he was a good, fair man with a subversive sense of humour who will be much missed.
We are now a little over two months until the FCA begins regulating CMCs. For sure, its powers mean it will be tougher than what exists now, with executive director Jonathan Davidson saying recently: “The new regime aims to drive up standards in a sector whose reputation has been tarnished by some companies engaging in high-pressure selling and by failing to provide clear information