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https://www.claimsregulation.gov.uk/details.aspx/30794
Ouch
- - - Updated - - -
As a result of an investigation, the Claims Management Regulator has decided
to impose a financial penalty of £567,423 on Rock Law Limited.
Rock Law
Limited was found in breach of the following Conduct of Authorised Persons Rules
2014:
General Rule 1 - A business shall conduct itself with honesty and
integrity.
General Rule 2d) – A business shall conduct itself responsibly
overall including, but not limited to acting with professional diligence and
maintaining appropriate records and audit trails
General Rule 5 – A
business shall observe all laws and regulations relevant to its
business.
Client Specific Rule 1c) - A business shall ensure that all
information given to the client is clear, transparent, fair and not
misleading.
Client Specific Rule 11 - A contract between a business and a
client must be signed by the client and the business may not take any payment
from the client until the contract is signed. The standard terms and conditions
of any contract must be clear and also published prominently on the business’s
website (where a business operates a website). The business must provide the
client with the following information in writing or electronically before a
contract is agreed: –
a) Honest, comprehensive and objective written information to assist the
client to reach a decision including the risks involved in making a claim, in
particular the possibility of losing money and, in the case of legal action,
appearing in court.
b) The services that will be provided, in a way that does not misrepresent,
either by implication or omission, any term or condition or by whom the service
will be provided.
c) The procedures that will be followed
d) Contracts, including for insurance or loans, that the client will be asked
to agree to.
e) Any charge the business makes. Where this is a percentage of compensation
payable, the percentage must be indicated together with a typical example of the
actual cost in pounds, or more than one example if the business makes
differential charges.
f) Any referral fee paid to, or other financial arrangement with, any other
person in respect of introducing the claim.
The Claims Management
Regulator has also decided to vary Rock Law Limited’s authorisation to provide
claims management services under the Compensation Act 2006 with effect from
16 October 2015.
The following conditions will be
effective from 16 October 2015
1. Rock Law Limited must
not enter into a legally binding contract with, or take payment details from,
clients within 24 hours of the initial sales call, and the provision of
pre-contract information to a client.
2. Rock Law Limited must record all
calls with clients and prospective clients.
3. All call recordings must
be retained by Rock Law Limited for a minimum period of six months.
Ouch
- - - Updated - - -
As a result of an investigation, the Claims Management Regulator has decided
to impose a financial penalty of £567,423 on Rock Law Limited.
Rock Law
Limited was found in breach of the following Conduct of Authorised Persons Rules
2014:
General Rule 1 - A business shall conduct itself with honesty and
integrity.
General Rule 2d) – A business shall conduct itself responsibly
overall including, but not limited to acting with professional diligence and
maintaining appropriate records and audit trails
General Rule 5 – A
business shall observe all laws and regulations relevant to its
business.
Client Specific Rule 1c) - A business shall ensure that all
information given to the client is clear, transparent, fair and not
misleading.
Client Specific Rule 11 - A contract between a business and a
client must be signed by the client and the business may not take any payment
from the client until the contract is signed. The standard terms and conditions
of any contract must be clear and also published prominently on the business’s
website (where a business operates a website). The business must provide the
client with the following information in writing or electronically before a
contract is agreed: –
a) Honest, comprehensive and objective written information to assist the
client to reach a decision including the risks involved in making a claim, in
particular the possibility of losing money and, in the case of legal action,
appearing in court.
b) The services that will be provided, in a way that does not misrepresent,
either by implication or omission, any term or condition or by whom the service
will be provided.
c) The procedures that will be followed
d) Contracts, including for insurance or loans, that the client will be asked
to agree to.
e) Any charge the business makes. Where this is a percentage of compensation
payable, the percentage must be indicated together with a typical example of the
actual cost in pounds, or more than one example if the business makes
differential charges.
f) Any referral fee paid to, or other financial arrangement with, any other
person in respect of introducing the claim.
The Claims Management
Regulator has also decided to vary Rock Law Limited’s authorisation to provide
claims management services under the Compensation Act 2006 with effect from
16 October 2015.
The following conditions will be
effective from 16 October 2015
1. Rock Law Limited must
not enter into a legally binding contract with, or take payment details from,
clients within 24 hours of the initial sales call, and the provision of
pre-contract information to a client.
2. Rock Law Limited must record all
calls with clients and prospective clients.
3. All call recordings must
be retained by Rock Law Limited for a minimum period of six months.
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