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The turnover of claims management companies spiralled 31% last year to top £1bn, with the turnover for the financial claims sector exceeding that of personal injury companies for the first time, Ministry of Justice figures have shown.

A claims management company specialising in interest-rate swap mis-selling could become an alternative business structure in order to litigate its own cases. All Square Treasury has just announced the appointment of a legal director.

A company that provides both claims management services and legal expenses insurance has joined forces with a law firm in an alternative business structure that needed a waiver to allow a 27-year-old solicitor to be its head of legal practice. It was one of two newly licensed CMCs.

It will be for personal injury solicitors to convince the Solicitors Regulation Authority (SRA) that they are not paying referral fees once the ban comes into force, it emerged today as the SRA published its long-awaited consultation on how it will implement the ban.

The ban on referral fees should not be limited to personal injury, a committee of MPs has said. It also called for the Information Commissioner to have the power to compel audits of law firms to check for breaches of the Data Protection Act.