Aileen Lynch looks at the latest batch of changes affecting the FSCS including a general rule that firms must cooperate with the compensation scheme...
In November last year, the Financial Conduct Authority (FCA) consulted on changes to some of the rules that govern the operation of the Financial Services Compensation Scheme (FSCS). Policy statement PS16/14 FSCS- Changes to the Compensation Sourcebook: feedback on CP15/40 and final rules, released on 29 April, confirms the changes that will be made as a result of the consultation. Some of the key points for advisers are as follows: Insurance cover An increase in the non-investment (general and pure protection) insurance mediation compensation limit from 90% to 100% for claims in...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
