New Bill targets cold callers & rogue management companies
Cold callers and rogue claims management companies which use information gathered from unsolicited calls and texts or who provide poor quality services could be fined under changes brought in through the Financial Services (Banking Reform) Bill and expected to take effect next year. The Claims Management Regulation Unit at the Ministry of Justice is also being expanded with more enforcement staff, funded by an uplift in fees paid by regulated claims firms. More than 1,100 claims companies specialise in mis-sold financial products such as payment protection insurance.
