This Note describes the regulatory framework which applies to claims management companies.Jump to full report >>
Claims management companies are regulated under the Compensation Act 2006 by the Ministry of Justice. There are about 3,000 such companies in the UK, most of which operate in the personal injury and financial services sectors. Consumer complaints are concentrated in the financial sevices sector. The note looks at the specific rules which apply to unsolicited text messages.
The 2017 Queen’s Speech included reference to a Financial Guidance and Claims Bill which would take forward this decision.