UK Claims Managers Told To Seek Temporary Authorization
Law360, London (January 2, 2019, 5:33 PM GMT) -- Claims management companies are now able to apply for temporary permission to operate lawfully in the U.K., the Financial Conduct Authority said Wednesday, as it prepares for the introduction of a tough authorization regime in April.
Temporary permission will enable claims managers to function while they wait for authorization by the City regulator, which is expected to happen between April and the end of July.
“CMCs have until the end of March to register for temporary permission,” the regulator said. “This will allow them to continue operating legally until they are fully FCA-authorized. If they don’t register with us before then...
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