Claims management regulation - regulation fees paid by claims management businesses
Status: Closed - with response
Open date: 18 October 2010
Close date: 20 December 2010
Responses published: 28 January 2011
A consultation paper relating to proposed amended fees paid by claims management businesses for 2010-11 and proposed new fee scales for 2011-12.
This consultation paper invites views on two proposals. The first sets out amendments to the current 2010-2011 fees determination to adjust the annual fees payable for the current regulation year to end of March 2011. The second sets out revised fee scales for applications for authorisation and annual regulation fees for the year 1st April 2011 to March 2012.
This is primarily aimed at persons authorised to provide regulated claims management services in England & Wales under the Compensation Act 2006 and those businesses and individuals contemplating making an application for authorisation.
A total of thirteen responses were received.
We have decided that fee increases proposed in the consultation will need to be implemented in full. Authorised claims management businesses will pay a supplementary fee for 2010/11 and increased fees for 2011/12. New applicants will all pay a flat fee of £750 regardless of the size of the business.