Govt to tackle ‘phoenixing’ firms with new law

The Government is to give its Insolvency Service greater powers to tackle firms that try to ‘phoenix’ by setting up near identical new businesses to avoid liabilities and will also target directors who deliberately dissolve firms to avoid bills.

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FSCS welcomes clampdown on adviser phoenixing

The Financial Services Compensation Scheme (FSCS) has welcomed the Financial Conduct Authority (FCA) consultation paper tackling phoenixing saying it will help “keep bad actors out of the market”.

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40 CMC phoenixing complaints in 1 week - PFS

The Personal Finance Society says it has received up to 40 complaints in 1 week about CMC ‘phoenixing.’

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FCA to ban CMC 'phoenixing' claims to FSCS

The FCA will seek to ban failed financial services firms from working with Claims Management Companies (CMCs) to target former clients.

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