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Claims firms welcome crackdown

The Ministry of Justice’s move to clamp down on dishonest ambulance chasers has been welcomed by the claims industry.

Justice minister Bridget Prentice has warned that if claims management firms make false assertions in their advertising they could face enforcement action and even disqualification.

Unless companies can produce evidence to back up claims made in their adverts they risk breaching consumer protection regulations.

John Rattigan, head of compliance at claims management specialist Cartel Client Review, says: “The dubious practices of a minority of claims companies are putting the reputations of trust-worthy firms such as ours at risk.”

He says that some indebted consumers become confused and approach claims firms to try to get out of debt when they should be talking to debt management companies or the Citizens Advice Bureau.

Lee Lipson, legal services director at claims firm Credit Issues, echoes Rattigan’s views.

Lipson says: “This is a highly technical area of the legal system that requires specialist knowledge and expertise.”

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OFT probes firms’ links with estate agents

The Office of Fair Trading has launched a study into the relationship between estate agents and other parties in the house buying chain, including mortgage brokers and surveyors.

The M factor

The awards also saw the first M Factor show, featuring some of the industry’s greatest talents including (pictured from top) Cobalt Capital’s Andrew Montlake, Complete Mortgage Services’ Brian Newell, Mortgageforce’s Katie Tucker and Spinnaka’s David Gillam.

Only 40% of buyers see a HIP before they make an offer

The Department for Communities and Local Government’s annual report shows Home Information Packs still have their faults and many buyers are not seeing the packs until after an offer has been made.

Reforming India: just the beginning

By Kunal Desai, Neptune India Fund

As global investors continue to scour emerging markets through the lens of reform potential, India shines bright. Indeed, we think it can sparkle even brighter. We anticipate India’s self-imposed 10-year ‘policy holiday’ to turn into one of the most pro-growth and pro-investment policy calendars seen in Asia in years. The Indian electorate has engineered a historic verdict. We now have the strongest Indian government since 1984, with the pro-market Bharatiya Janata Party (BJP) achieving an absolute majority for the first time in the party’s history.