Finance
UK regulator wins court battle to name claims company under investigation
UK regulator wins court battle to name claims company under investigation
Published by Global Banking and Finance Review
Posted on January 2, 2026
By Phoebe Seers
LONDON, Jan 2 (Reuters) - Britain’s financial watchdog was allowed to make public for the first time the name of a claims management company it is investigating, following a legal judgment published on Friday.
The Financial Conduct Authority can only identify firms under investigation in exceptional circumstances and last year had to abandon an effort to routinely "name and shame" in the face of widespread opposition from the financial sector as well as members of the former Conservative-led government.
The FCA in a statement on Friday said it had informed the UK-registered claims management company, The Claims Protection Agency, in September that it intended to announce an investigation in relation to sales tactics used to win customers for potential car finance claims.
The Claims Protection Agency, which trades under 12 different names, including My Claim Group, challenged the decision in the High Court but lost, and its appeal was dismissed. It has no further right of appeal.
CLAIMS COMPANY SAYS IT HAS COOPERATED FULLY
In an emailed statement, the company said it has fully cooperated with the FCA in relation to its investigation which it believes "will exonerate our position".
"Claims on behalf of clients of My Claim Group are conducted by respected legal firms that are vastly experienced and regulated by the Solicitors Regulation Authority," it said.
The FCA said announcing the investigation allows customers of the claims management company to “consider their options”.
The investigation itself will examine what customers were told about potential redress, whether they were informed claims could be made for free, and whether they were pressured to sign up, the FCA said. It has not reached any conclusions on whether rules were breached and it is unclear when the investigation will be completed.
In August 2025, the Supreme Court published a ruling on the legality of car finance commissions and the FCA in October published a consultation paper on a redress scheme for consumers who were mis-sold car finance, estimating that most customers would be due 700 pounds ($943).
My Claim Group in August said on its website that it was withdrawing material that suggested customers could be owed 4,000 pounds.
The Claims Protection Agency said that estimates for compensation in historic adverts "were based upon reasonable assumptions at the time of publication, and we look forward to further cooperating with the FCA in relation to this matter".
($1 = 0.7422 pounds)
(Reporting by Phoebe Seers; editing by Barbara Lewis)
