MAC FIN CONSULTING LIMITED

Limits on what they may do

• Winding up of PPI claims activities

  REQUIREMENT 1: With effect from the effective date, the firm shall not carry on any regulated claims management activity, other than permitted activities. REQUIREMENT 2: The firm shall provide to the FCA every three calendar months, commencing on the effective date, or within such period as the FCA may reasonably require, the following information: a. the number of claims or potential claims closed in the previous three months; b. the total number of the firm’s customers with open/active claims or potential claims, as at the date of reporting; REQUIREMENT 3: The firm shall inform the FCA no later than seven days after it has ceased carrying on claims management activities (i.e. once it has ceased offering advice, investigation or representation in relation to claims or potential claims in). Within 10 working days of the notification above, the firm shall submit a cancellation of its Part 4A permissions. DEFINITIONS: The definitions below are used in this application: “the Act” means the Financial Services and Markets Act 2000; “effective date” means the date on which the requirements below come into effect (see paragraph 5 below). “FCA” means the body corporate previously known as the Financial Services Authority and renamed on 1 April 2013 as the Financial Conduct Authority; “the firm” means Mac Fin Consulting Ltd; “the Handbook” means the FCA’s Handbook of rules and guidance; “legal practitioners” has the same meaning as the definition given in Article 89N(2) and Article 89N(4) of the RAO; “permitted activities” means Claims management activities when carried on in relation to relevant claimants; and “claims management activities” means the regulated activity specified in Article 89I of the RAO (Advice, investigation or representation in relation to financial services or financial product claim) when that activity is carried on in relation to claims or potential claims; “the RAO” means the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (S.I. 2001/544) as amended by SI 2018/1253; “relevant claimant” means a claimant with whom the firm entered into an agreement on or before the effective date in relation to the carrying of claims management activities; and “Seeking out, identification and referral activity” means the regulated activity specified in Article 89G of the RAO (Seeking out, referrals and identification of claims or potential claims).