Companies

FCA issues company £110,000 fine for ‘cold calling’

This decision follows the transfer of regulatory responsibility for claims management companies (CMCs) to the FCA on 1 April 2019

The Financial Conduct Authority (FCA) has issued a £110,000 fine to the claims management company, Crosfill and Archer Claims Limited, for making “unsolicited” telemarketing calls to people who registered not to receive these types of sales calls.

This decision follows the transfer of regulatory responsibility for claims management companies (CMCs) to the FCA on 1 April 2019.

The fine was originally imposed by the Ministry of Justice in 2018 but appealed by the firm which was subsequently “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.”

Accountancy Today has contacted Crosfill and Archer Claims Limited for a comment.

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