Showing its teeth: Claims Management Regulation team imposes hefty fine on CMC

The Government changed the law in December 2014 to allow the industry’s watchdog to issue fines for noncompliance with the applicable regulations. On 13 July the Claims Management Regulator’s (CMR) latest annual report 2015 made clear that if Claims Management Companies (CMC) failed to comply with the CMR’s rules of conduct, a full range of enforcement tools would be used. It hasn’t taken long for the CMR to issue its first fine, on 5 August, of nearly a quarter of a million pounds. The regulator’s target was a CMC that processed hearing loss claims.

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