Laura WilesThe FCA has banned misleading adverts published by Conclusive Finance Ltd – a claims management company which also trades as PCP Refunds – relating to motor finance commission redress.
Specifically, the FCA has required the firm to remove adverts which used edited, unauthorised clips of Martin Lewis to make misleading claims about average motor finance compensation and used the FCA logo without permission. It also required the firm to take down its website until it had complied with the FCA’s rules.
Some of the adverts stated that consumers would receive £1,846 on average for MVF compensation, with no explanation as to how this figure was reached. Conclusive also promoted a ‘no win, no fee’ service without properly explaining its fee structure, including any exit fees. It also did not inform consumers that they could make claims for free to their lender or the FOS without using a CMC.