FSA spends £763k on delayed FSCS review

A review was originally announced in July 2009 and a consultation paper was due to be published in late 2010, but the regulator suspended its investigation last November. The cost of the attempted review was revealed in response to a Freedom of Information request from IFAonline's sister title Insurance Age. In answer to the request, the FSA said it postponed its own review because "the government's decision to review the structure of the FSCS and proposals to amend European compensation scheme directives meant that formal consultation could not begin until we had clarity about these ...