FSA, the Claims Management Regulator (CMR), the Financial Ombudsman Service (FOS) and the Financial Services Compensation Scheme (FSCS) have published a note to help firms and consumers understand what claims management companies (CMCs) do, and to stress complainants can complain directly without using a CMC. The note:

  • explains the role of CMCs in financial services complaints;
  • provides information and responds to frequently asked questions; and
  • explains the respective roles of FSA, CMR, FOS and FSCS.

(Source: Joint Note on CMCs)