Hoban: No perfect solution to FSCS funding

The funding of the scheme was brought up during a meeting of the Financial Services Bill Committee this morning, although no MPs tabled any amendments to change it. Hoban suggested the industry had not been vocal enough about any concerns about the funding of the FSCS when the existing regulatory regime was set up, under FSMA 2000. "The last time it was reviewed, everyone was content with the mechanism of allocation," he said. "Events subsequently suggested the mechanism was not appropriate and is now being revisited." "I don't think there is a perfect solution to this and it is be...