Regulation

Compensation Act 2006

The Compensation Act 2006 brought in specific changes to the law of liability and damages in negligence and breach of statutory duty. It further introduced a scheme of regulation for claims management companies. In introducing the Bill, Baroness Ashton said that it was intended “ to tackle perceptions that can lead to a disproportionate fear of litigation and risk averse behaviour; to find ways to discourage and resist bad claims; and to improve the system for those with a valid claim for compensation.”

Part 2 of the Act seeks to regulate the provision of claims management services. The Act creates a Claims Management Services Regulator to authorise and regulate claims management companies and to:

Set and monitor standards of competence and professional conduct

Promote good practice, in particular as to the provision of information about charges and other matters to users;

Promote practices likely to facilitate competition;

Ensure that arrangements are made for the protection of users, including complaints handling.

Hallbrook Partners Limited is regulated by the Ministry of Justice in respect of regulated claims management activities: Registration number CRM23253

Financial Services and Markets Act 2000

To conduct regulated activity in the UK requires authorisation or exemption by the Financial Services Authority (FSA). The firm needs to be regulated and the employee acting for the firm also needs to be approved.

For overseas firms, if they conduct investment business in the UK – i.e. target UK consumers, they need to be approved by the FSA directly or pass-ported to conduct investment business under the Markets in Financial Instruments Directive (MIFID)

Conducting regulated activity without authorisation or exemption is a criminal offence punishable by two years in prison and or an unlimited fine

We DO NOT advise, deal in or arrange deals in any types of investments and therefore the services we provide do not fall under the remit of the Financial Services Authority.