FSA examining funding of FSCS

The FSA is examining the funding of the Financial Services Compensation Scheme (FSCS) to ensure the c...

The FSA is examining the funding of the Financial Services Compensation Scheme (FSCS) to ensure the cash is raised fairly and proportionally by regulated firms. The FSCS allows consumers can make a claim if they believe a financial services company has abused FSA regulatory guidelines. The regulator has worked with trade associations and looked at data provided by economic consultant Oxera to come up with the four funding options, which split the scheme into five classes, life and pensions, securities, mutual funds and derivatives, deposits, general insurance and mortgages. Option A: The ...