The Solicitors Regulation Authority (SRA) is consulting on rules that will restrict excessive fee-charging when firms claim compensation for clients mis-sold financial products.
Paul Philip, SRA chief executive, said: ‘Fees for claims management work related to financial products or services have to be set at a level that means the cost is affordable for people seeking redress, while ensuring that it is still a viable area of work for firms that provide this service for those who need it.’
The consultation closes on 21 June; more information can be found here.
