The Financial Guidance and Claims Bill is a UK Government Bill sponsored by the Department for Work and Pensions. Its stated policy objectives are to:

• create a single body – the Single Financial Guidance Body – responsible for all public financial guidance, to enable members of the public to access good-quality, free-to-client, impartial financial guidance and debt advice;
• make changes to the regulation of Claims Management Companies (CMCs), transferring regulatory responsibility to the Financial Conduct Authority in order to protect consumers from widespread malpractice across the sector, such as nuisance calls and encouragement of fraudulent claims.

The Welsh Government tabled a Legislative Consent Memorandum in relation to the Financial Guidance and Claims Bill (PDF, 92KB) on 5 July 2017. 

The Legislative Consent Memorandum was referred to the Children, Young People and Education Committee and the Equalities, Local Government and Communities Committee by the Business Committee on 18 July 2017, with a reporting deadline of 5 October 2017.

The Equality, Local Government and Communities Committee published its report on the LCM on 8 February 2018.

The Children, Young People and Education Committee published its report on the LCM on 8 February 2018.

The Senedd voted to give consent to the Bill on 13 February 2018.