Regulations
By Sydney TheCMO
1 / 15
How the Ads Actually Work. The mechanics here are pretty cynical. A consumer searches for information on whether they were…
2 / 15
The Taskforce Numbers. The FCA launched a joint taskforce in March, and the numbers it's putting out are striking.
3 / 15
What Consumers Can Actually Do. The FCA's guidance is pretty practical. If you think you were misled into a contract with a CMC,…
4 / 15
Britain's financial watchdog is done playing nice. The Financial Conduct Authority has pulled or amended more than 1,000 misleading car finance promotions since January 2024, and…
5 / 15
The crackdown centers on claims management companies — CMCs — and law firms running ads that look like independent financial advice but aren't.
6 / 15
The mechanics here are pretty cynical. A consumer searches for information on whether they were mis-sold car finance — a legitimate and live question in the UK right now — and…
7 / 15
One firm has already been forced to pull its ads entirely. Others have been told to correct misleading content and, where contracts were signed under false pretenses, to unwind…
8 / 15
The FCA launched a joint taskforce in March, and the numbers it's putting out are striking. More than 28,000 consumers have been allowed to exit contracts without paying exit fees.
9 / 15
That's a lot of movement in a short time. Whether it sticks is another question.
10 / 15
Two firms are now under active investigation: The Claims Protection Agency Limited and Consultation Claims Limited.
11 / 15
The complaints picture is messy. Consumers have flagged everything from aggressive fee collection to being signed into contracts they didn't fully understand — sometimes through…
12 / 15
See also: FCA Hits Devon Fraudster Daniel Pugh With £452,286 Confiscation Order
13 / 15
The fee question is worth sitting with for a second. A 30%-plus cut of compensation sounds enormous, and it is — especially when the underlying claim might be straightforward.
14 / 15
Firms that have voluntarily revised their practices have mostly done so around three areas: stopping new client intake, changing how they advertise, and fixing exit fee policies.
15 / 15
The broader review of the claims management market is still running. The FCA says it's trying to get at root causes — not just swat individual bad actors, but understand why the…
The Currency Analytics
Want the full story?