The government has published the final report of the independent review by Carol Brady into the regulation of claims management.

The report recommends that claims management companies (CMCs) should be re-authorised under a more robust process which would hold managers of CMCs to account for the conduct of their business and that the FCA would be the most effective option for delivering stronger protection for consumers.

The government has announced that it accepts the recommendations and that it intends to transfer responsibility for regulating CMCs to the FCA and that it will consult on implementing recommendations in due course.