The Financial Services Authority (FSA) has restarted its review of Financial Services Compensation Scheme (FSCS) funding, with a view to formally consult in the first half of 2012.
The review initially started in October 2009 but was put on hold 12 months later due to uncertainties around the impact of UK regulatory reform on the FSCS, and the ongoing development of EU directives. Sheila Nicoll, director of conduct policy at the FSA, will lead the review of issues such as the composition of the nine funding classes, the levy thresholds applicable to each and their tariff bases. The FSA said it was able to restart the review after further clarity from HM Treasury on the future structure, rule making arrangements and accountability of the FSCS, and progress in Eur...
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