In Plain English
AI-generatedThe Financial Guidance and Claims Act 2018 is now law. It updates how financial guidance is delivered and how claims are handled, including the use of technology to improve services. The Lords debated amendments, but two were defeated, and the bill has now received Royal Assent.
Key Points
- Originated in the Lords and received Royal Assent, becoming law.
- Two Report Stage amendments were defeated in the Lords (votes 255 Aye, 293 No on 24 April 2018).
- The act aims to modernise financial guidance and claims processes, with a focus on technology-enabled delivery.
- Cross-party support from Labour, Lib Dems, SNP, Plaid Cymru and Independents; opposition from Conservative Party, DUP and Reform UK.
- Affects consumers seeking guidance, financial services providers, claims management firms and regulators.
Progress
The bill has completed Parliament’s passage and received Royal Assent, so it is now enforceable as law.
Voting
In the Lords, the two amendments were defeated (255 Aye, 293 No). Across parties, Labour, Lib Dems, SNP, Plaid Cymru and Independents generally supported, while Conservatives, DUP and Reform UK opposed.
Who is affected?
Consumers seeking financial guidancePeople pursuing financial claimsFinancial services providers and advisersClaims management companiesRegulators overseeing financial guidance and claimsTechnology firms delivering digital financial guidance and claims services
Generated 21 February 2026