The Personal Finance Society is to launch a campaign to “weed out” rogue firms operating in the Claims Management Company (CMC) sector.

Claims management companies (CMCs) - so-called ‘ambulance chasers’ - must do more to ensure their promotions do not mislead potential customers according to the FCA.

The Financial Ombudsman Service (FOS) has received hundreds of complaints about the activities of claims management companies (CMCs) – so-called ‘ambulance chasers’.

Claims management companies and law firms are submitting two thirds of all SIPP complaints - double the percentage seen in the previous year, according to Financial Ombudsman Service (FOS) figures out today.