Consultation outcome

Claims management regulation: consultation on secondary regulations

This consultation has concluded

Download the full outcome

Draft statutory instrument

Explanatory memorandum

Assessment of impacts

Detail of outcome

The consultation response document summarises the responses received and confirms the final approach to defining the scope of claims management activities for the purposes of FCA regulation and the approach to the temporary permissions regime. It also sets out the government’s policy intent for transitional provisions.

A draft of the full statutory instrument (SI) is published alongside an explanatory memorandum and an assessment of the impacts on businesses.

The explanatory memorandum has been prepared in order to assist the reader in understanding the draft SI, and explain what the SI will mean in practice, provide background information on the development of policy, and provide information on how the SI will affect existing legislation in this area.

The draft of the full SI is still subject to parliamentary scrutiny.

Original consultation

Summary

The government is seeking views on draft secondary regulations relating to claims management regulation.

This consultation ran from
to

Consultation description

This technical consultation seeks comments on the draft secondary regulations that will enable the transfer of claims management regulation to the FCA, with a focus on the scope of regulation and the FCA’s consultation requirements.

The regulations being consulted on will only form part of the final statutory instrument (SI). The final SI will also include the temporary permissions regime, transitional provisions to put the framework for the transfer in place, as well as consequential provisions.

The consultation also seeks comments on the design of a temporary permissions regime to help firms adapt to the FCA regime.

Documents

Published 23 April 2018
Last updated 10 October 2018 + show all updates
  1. Updated with claims management companies statutory instrument, impact assessment and explanatory memorandum.
  2. Updated with 'consultation outcome'.
  3. Updated with the response to the consultation and the draft Statutory Instrument.
  4. First published.