Recommendation 156

Compounding the issues set out above in relation to the interaction between the FCA rules and the FOS’s rulings is the impact of what the FCA and FOS describe as ‘mass redress events’ in which large numbers of complaints are filed about the same issue. The FOS states that professional representatives such as claims management companies (CMCs) were behind around 47% of the cases referred to it between April and December 2024. 236 The FOS has also noted that “only 26% of cases brought by professional representatives were found in favour of the consumer, compared to 38% of those brought directly by consumers for free.” 237