Third reading of Financial Services (Banking Reform) Bill
Claims management companies are to be regulated by the Legal Ombudsman, and could be fined or ordered to pay compensation to customers provided with a poor service or where information is gathered by unsolicited calls and texts, under law reforms being introduced through the Financial Services (Banking Reform) Bill. The Bill had its third reading in the House of Lords this week. The Ministry of Justice expects the reforms to be implemented later in 2014.
