Open-access content
3rd January 2017
CONSULTATION ON CHANGES TO FSCS RULES AND DISCUSSION ON FUTURE FUNDING OF THE SCHEME LAUNCHED
The Financial Services Compensation Scheme (FSCS) is the UK's statutory compensation scheme of last resort, which can step in when an authorised financial services firm is unable to pay claims against it. Firms from across the financial services industry pay levies to fund both the FSCS's operating costs and the compensation it pays out.
The FCA has announced that it is inviting responses on a number of options for changing both the funding of the FSCS and the coverage it provides to consumers, as well as proposals to change the rules around the scope and operation of funding. Views should be submitted by 21 March 2017 via bit.ly/2hw0Kvb or by emailing cp16-42@fca.org.uk
Filed in: