The shadowy firms behind claims management companies

The Court of Appeal takes a different turn this week, thanks to an in depth article in The Times entitled The obscure firms behind frenzy in car loan claims (paywall).

Described as “opaque”, the claims management companies often have complex structures to hide the real owners, sometimes located offshore. What’s more, The Times article says that these claims management companies are structured in such a way to sit outside FCA regulation. Instead they are self-policed through the Solicitors Regulation Authority.

The irony cannot be lost that these ‘opaque’ non-regulated firms are chasing commission clarity on behalf of claimants from FCA regulated firms…and are set to benefit by £0000s.