FCA sets out proposals to stop 'particularly egregious' CMC phoenixing

Proposals published today

Sophie King
clock • 6 min read
The FCA said consumers will suffer fewer losses if claims management phoenixing was stopped
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The FCA said consumers will suffer fewer losses if claims management phoenixing was stopped

The Financial Conduct Authority (FCA) has made plans to stop advisers phoenixing into claims management companies (CMC).

The consultation paper, published on Monday (17 May), outlined its proposals for new rules on CMCs. Claims management company phoenixing occurs when an individual from a wound-up firm reopens under...

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