Kathy Byrne uncovers the complex nature of the Financial Services Compensation Scheme (FSCS).
One of the by-products of the credit crunch is that virtually every consumer is now aware of the existence of the Financial Services Compensation Scheme (FSCS) and that it can provide compensation should a financial firm go into liquidation. However, few people, including financial services practitioners, are familiar with exactly what (or who) is covered. You might think that the starting place to find out whether an investment you have is covered would be the FSCS website. Wrong. The details are actually in the Compensation (COMP) section of the Full FSA Handbook, here. Eligibili...
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