20 Jul 2012
Panacea have teamed up with ThoughtLeadership Live to produce a FREE ‘Bento for One’webcast to support and educate IFA's.
The financial services industry is going through one of the most radical overhauls in recent history. However, as this happens the legal foundations of the industry are becoming more and more shaky. It was for this reason that on 20th June 2012, Derek Bradley, CEO of Panacea and Alan Lakey, Partner of Highclere Financial Services, met with senior officials from the Ministry of Justice’s claims management regulation unit to discuss the problem of CMCs issuing spurious complaints, which have become more prevalent in the wake of the payment protection insurance mis-selling scandal. Their findings:
Bradley and Lakey have therefore proposed a solution to the MoJ: remove CMC-managed claims from FOS jurisdiction and place them firmly within the court system. This will treat CMC complaints in the same way as a case that has gone to litigation – outside of FOS jurisdiction.
View the webcast below