Financial Guidance and Claims Bill [HL]

Explanatory Notes

Overview of the Bill

1 The Bill’s focus is on ensuring members of the public are able to access free and impartial money guidance, pensions guidance and debt advice. It also ensures that they are able to access high-quality claims handling services by strengthening the regulation of claims management companies.

2 To enable this the Bill provides in two areas:

Creation of a Single Financial Guidance Body

Transfer of claims management regulation from the Claims Management Regulation Unit of the Ministry of Justice to the Financial Conduct Authority.


Prepared 22nd June 2017