MPs say increased awareness of FSCS would improve financial stability

In the poll of 154 MPs from across the political spectrum, 78% agreed or strongly agreed that improving awareness of FSCS would increase consumer confidence and trust in financial services thereby helping to create financial stability. Some 80% said they felt advisory firms should tell people about FSCS protection when selling relevant products and services. A further 81% said they felt there was a lack of awareness of the protection offered by the scheme. This follows research conducted by the FSCS earlier this year showing that just 47% of consumers are aware of the scheme's exis...