Regulation fees paid by claims management companies 2016 to 2017

Overview

This paper sets out the levels at which claims management regulation fees (the fees collectable for applications for authorisation and the costs incurred by the Regulator through direct regulation of authorised CMCs) will be set for the 2016 to 2017 regulatory year and proposes the methods of calculation by which they will be collected.

This consultation is aimed at persons authorised to provide claims management services in England and Wales under the Compensation Act 2006 and those CMCs and individuals contemplating making an application for authorisation.

Proposal

Having considered all of the factors that contribute to the current and future size of the industry, and in particular taking into account the general stabilisation of the market, the Regulator has reached the view that fee levels should remain unchanged for 2016 to 2017. This should allow the Regulator to achieve the main objectives of delivering an effective regulatory regime and ensuring that the fee income from regulated CMCs covers the costs of regulation.