Moved by
Lord Holmes of Richmond
70: After Clause 16, insert the following new Clause—
“Regulatory principles to be applied in respect of claims management services
(1) In relation to the regulation of claims management services, the FCA must act according to the principles that—
(a) where appropriate, authorised persons should act honestly, fairly and professionally in accordance with the best interests of consumers who are their clients; and
(b) where appropriate, authorised persons should manage conflicts of interest fairly, both between themselves and their clients, and between clients.
(2) In this section, “authorised person” has the same meaning as in the Financial Services and Markets Act 2000, and “authorised persons” shall be construed accordingly.”