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FCA fines CMC £110k over cold calling

The Financial Conduct Authority (FCA) has fined claims management company Crosfill & Archer Claims Limited £110,00 for breach of cold calling rules.

Crosfill & Archer had been making unsolicited telemarketing calls against people who had opted out of this type of communication.

 

The firm was found to have no evidence of receiving consent to make these calls, with contact information purchased from third party data providers.

 

The fine was initially imposed by the Ministry of Justice in 2018 but Crosfill & Archer had appealed.

 

This appeal was struck out by the Upper Tribunal after the firm failed to file relevant documents in time.

 

Mark Steward, executive director of enforcement and market oversight at the FCA, said: “Cold calling customers who elected not to receive sales calls is an example of the type of cavalier behaviour claims management firms should not be engaging in.

 

“Firms need to ensure they have the right governance and due diligence in place, and we will take action when we see behaviour that threatens legitimate consumer rights and interests.”

 

Since the initial fine, regulatory oversight of CMC was passed to the FCA in April 2019. The regulator has already been active in implementing change across this market.

 

In May, the FCA announced plans to stop ‘claims management phoenixing’ and ban CMCs from managing FSCS claims.

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