Financial Conduct Authority bans misleading CMC ads

The Financial Conduct Authority (FCA) has banned adverts from claims management company (CMC) Conclusive Financial Ltd which used edited, unauthorised clips and images of consumer guru Martin Lewis when making misleading claims about average motor finance compensation, as well as using the FCA logo without permission, in the regulator’s latest salvo against poor practices from CMCs.

Conclusive, which also trades as PCP Refunds, was required to remove its advertising and update or take down its website until it complied with the FCA’s rules, and has since removed the banned adverts.

MoneySavingExpert, the financial advice platform founded by Lewis, flagged the firm’s ads to the FCA in February 2026, explaining that they were using his name, likeness and videos to promote their services without his permission when he had no association with the firm.

The advertisements depicted Lewis speaking about car finance compensation claims on his ITV show, The Martin Lewis Money Show Live, and on his personal social media channels.

Compensation claims

The FCA was concerned that some of the firm’s adverts stated consumers would receive £1,846 on average for compensation for motor finance claims, with no explanation of how they reached this figure. Current FCA estimates suggest an average payout of around £830 per agreement.

In addition, the FCA found that Conclusive also promoted a ‘No Win, No Fee’ service on its websites, without a proper explanation of the fees, including any exit fees, people would be charged. It did not tell consumers that they could make claims for free to their lender or to the Financial Ombudsman Service without the need to use a CMC.

Alison Walters, director of consumer finance at the FCA, said: “Consumers should be wary of adverts that overpromise or give the impression they are endorsed by the FCA or well-known individuals. We will take swift action where rules are being broken.

“Our scheme is free and people don’t have to use a CMC or law firm. If they do, it’s important that they can trust them.”

Taskforce

The FCA, along with the Solicitors Regulation Authority, Advertising Standards Authority and Information Commissioner’s Office, has recently formed a joint taskforce to tackle poor handling of motor finance claims by some CMCs and law firms, in a push to improve standards. Following FCA action, CMCs have removed or amended 899 misleading adverts since January 2024.

The regulator says consumers who have engaged with Conclusive and believe they have been misled by its advertising, should complain directly to Conclusive. If consumers are unhappy with the outcome, they can refer their complaint to the Financial Ombudsman Service.

If a consumer, as a result of seeing these adverts, has signed up with a law firm, then they should complain to the law firm directly and the Legal Ombudsman if they remain unsatisfied.