FSCS: No funding model will ever be perfect

FSCS chief executive Mark Neale conceded there are problems with the current Scheme, in a letter to over two thousand industry practitioners who signed a petition calling for a review of its funding. Neale says he wants advisers to play a part in the FSA's ongoing review of the funding structure of the FSCS. But in the Scheme's defence, its chief executive says even a revised funding method will not be "perfect", and he highlighted potential problems with a pre-funded alternative. He says: "No funding model will ever be perfect. However, we and the authorities share the industry's ...