The FSA has increased the compensation limit for deposits during a period of market volatility to eas...
The FSA has increased the compensation limit for deposits during a period of market volatility to ease consumer concerns. The Financial Service Compensation Scheme cover for deposits has been lifted to 100% of the first £35,000 of each depositer’s claim. Previously the maximum compensation limit was 100% of the first £2,000 and 90% of the next £33,000 of depositer’s claims, amounting to £31,700. Clive Briault, FSA managing director of retail markets said the move was designed to help reassure depositers with accounts of up to £35,000 that they are 100% protected and the regulator is work...
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