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HM Treasury technical consultation on claims management regulation - Law Society response
The Law Society has responded to the HM Treasury consultation 'Claims management regulation: consultation on secondary regulations'.
The technical consultation seeks comments on the draft secondary regulations that will enable the transfer of claims management regulation to the Financial Conduct Authority, as set out in the Financial Guidance and Claims Act 2018.
The Law Society has responded to express support for the proposal to retain the solicitors’ exemption that has been in place since 2006. Retaining this exemption ensures solicitors do not face dual regulation by the Solicitors Regulation Authority and the Financial Conduct Authority when carrying out a range of activities.