FCA reveals next steps for improving the compensation framework
The Financial Conduct Authority has published the feedback it received to its call for input on the framework for protection provided through the Financial Services Compensation Scheme, following concerns about increasing costs.
The FCSC ultimately provides compensation when certain authorised financial services firms are unable to meet claims against them. The compensation scheme provides protection for consumers.
The review was launched following concerns about the increasing cost of compensation liabilities falling to the FSCS, which could create a barrier to firms entering or wishing to stay in the market, potentially affecting the availability of some financial services.
The review has aimed to make sure the
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