FCA opens investigation into claims management company

The Financial Conduct Authority (FCA) has opened an enforcement investigation into The Claims Protection Agency Limited (TCPA) following concerns about its advertising and sales tactics in relation to potential motor finance claims.

The FCA is investigating what customers were told about the amount of redress they might obtain, whether they were told they could make a claim for free, and whether they were pressurised to sign up. Announcing the investigation allows TCPA customers to consider their options.

The FCA has not reached any conclusions on whether TCPA breached any regulatory requirements.