relevant financial services claims management activities

has the meaning given by section 33(11) of the Financial Guidance and Claims Act 2018 for 'relevant claims management activities' but only includes activities which concern claims in relation to financial products and services

relevant financial services claims management agreement

has the meaning given by section 33(11) of the Financial Guidance and Claims Act 2018 for "relevant claims management agreements" but only includes those agreements which concern claims in relation to financial products and services

client

means the person for whom you act and, where the context permits, includes prospective and former clients

in the SRA Financial Services (Scope) Rules, in relation to any regulated financial services activities carried on by an authorised body for a trust or the estate of a deceased person (including a controlled trust), means the trustees or personal representatives in their capacity as such and not any person who is a beneficiary under the trust or interested in the estate

PPI fee restriction

means the restrictions on charges provided for under sections 29 and 31 of the Financial Guidance and Claims Act 2018

Fee cap

means the maximum amount that may be charged under the PPI fee restriction or the financial products and services fee restriction

claim

means

1. in the SRA Indemnity Fund Rules and SRA Indemnity Insurance Rules,a demand for, or an assertion of a right to, civil compensation or civil damages or an intimation of an intention to seek such compensation or damages. For these purposes, an obligation on an insured firm and/or any insured to remedy a breach of the SRA Accounts Rules, or any rules which replace them in whole or in part, shall be treated as a claim, and the obligation to remedy such breach shall be treated as a civil liability for the purposes of clause 1 of the MTC, whether or not any person makes a demand for, or an assertion of a right to, civil compensation or civil damages or an intimation of an intention to seek such compensation or damages as a result of such breach, except where any such obligation may arise as a result of the insolvency of a bank (as defined in section 87 of the SA) or a building society which holds client money in a client account of the insured firm or the failure of such bank or building society generally to repay monies on demand; and
2. in the SRA Claims Management Fees Rules, any claim for compensation, restitution, repayment or any other remedy or relief in respect of loss or damage or in respect of an obligation, whether pursuant to an order of a competent court or court or tribunal or pursuant to a statutory redress or compensation scheme