27 Transfer to FCA of regulation of claims management services
Financial Guidance and Claims Act 2018 (2018 c 10) | Legislation

Part 2 Claims Management Services

Transfer of regulation of claims management services to FCA

27  Transfer to FCA of regulation of claims management services

(1)     The Financial Services and Markets Act 2000 is amended as follows.

(2)     In section 1H (interpretation provisions for FCA's objectives)—

(a)     in subsection (2), at the end of paragraph (c) insert “or to engage in claims management activity”, and

(b)     in subsection (8), at the appropriate place insert—

““engage in claims management activity” has the meaning given in section 21;”.

(3)     In section 21 (restrictions on financial promotion)—

(a)     in subsection (1)—

(i)     the words from “to engage” to the end become paragraph (a), and

(ii)     at the end of that paragraph insert “, or

(b)     to engage in claims management activity.”,

(b)     after subsection (10) insert—

“(10A)     “Engaging in claims management activity” means entering into or offering to enter into an agreement the making or performance of which by either party constitutes a controlled claims management activity.

(10B)     An activity is a “controlled claims management activity” if—

(a)     it is an activity of a specified kind,

(b)     it is, or relates to, claims management services, and

(c)     it is carried on in Great

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