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11 December 2018

The Association of Professional Compliance Consultants (APCC) has set up a new Claims Management Compliance Working Group, which Jourdain Tambo, our Compliance Director (Claims Management & GDPR) will chair.

Objectives of the CMC Working Group

The Financial Conduct Authority (FCA) will assume regulatory responsibility for regulated claims management companies (CMCs) from 1st April 2019. The transition for CMCs will consist of a registration for temporary permission and a submission for FCA authorisation. The objective of this working group is to create a platform for APCC members to discuss the regulatory requirements that will apply to CMCs, create and build relationships with senior management at the FCA’s transition teams in the interest of APCC members and to equip APCC members with relevant information to provide support to CMCs during the transition period.

Status

The Claims Management working group will meet regularly in the build up to the opening of the temporary permission window and the FCA authorisation gateway. The working group will discuss the consultation papers that have been published by the FCA to date and, in due course, the respective policy statements. The working group will continue to meet regularly during the application period to discuss feedback on the process and share valuable insight that may be beneficial to members.

For more information on this or the transfer to the FCA for CMCs, please call us on 01423 522599 or email Jourdain.Tambo@claimsmanagementcompliance.co.uk

By David Petty

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