The FCA is consulting on the scope of its upcoming market study on claims management services. When it announced the study it said it wanted to understand the root causes of some of practices it has observed in the sector, and it will focus on services provided in relation to financial services and products claims and housing disrepair services.
It plans to focus on:
- customer journey;
- pricing-related harms;
- business model incentives;
- risks created by low financial resilience in CMCs; and
- incentives created by the regulatory landscape.
It asks for views on whether it has the scope right, before it finalises it and starts issuing information requests. Consultation closes on 19 June.