Professional Financial Claims Association (PFCA)
The Professional Financial Claims Association (PFCA) was founded by some of the UK’s leading financial claims management companies (CMCs) in 2013. This followed a consultation period with the Claims Management Regulator (CMR), Sir Mark Boleat, industry trade bodies, other associations, consumer groups’ including Moneysavingexpert.com, Which? and experts in the field of financial services. It was...
Citizens Advice Bureau
The Citizens Advice Bureau (CAB) provides advice that is free, confidential and independent to help people overcome their problems. They are a voice on issues that matter to people and have strong roots in local communities. If they identify an area where consumers are being treated unfairly by big corporations, the Citizens Advice will launch...
Claims Management Regulator (CMR)
The Claims Management Regulation Unit has been responsible for regulating Claims Management Companies (CMCs) since being created back in April 2007. Companies are regulated according to the Claims Management Regulation (CMR) under the Compensation Act 2006, Part 2. The regulatory objectives of the Claims Management Regulator include: Ensuring that consumers’ interests are protected and promoted...
Financial Conduct Authority (FCA)
The Financial Conduct Authority (FCA) has been responsible for the regulation of the UK’s financial services industry since taking over certain powers from the Financial Services Authority (FSA) in April 2013. The FCA works to ensure that regulated financial firms are obeying the rules, and maintaining high standards of operation, by supervising their conduct. If...
Financial Ombudsman Service (FOS)
The Financial Ombudsman Service (FOS) is an impartial and independent body designed to settle disputes between consumers and financial service providers. The body was created in 2001 from the Financial Services and Markets Act 2000, and is funded through levies and fees placed on companies regulated by the FSA or Office of Fair Trading (OFT)....
Financial Services Compensation Scheme (FSCS)
The Financial Services Compensation Scheme (FSCS) is known as a ‘fund of final resort’. Created by the Financial Services and Markets Act 2000, it is available for consumers of authorised financial service providers. The scheme will deal with customers' claims against funds or assets should the company fail e.g. default or stop trading and will...
