The FSCS is looking to extend its consumer awareness agreements to the pensions sector, as part of its wider financial services contingency planning strategy, chief executive Mark Neale has said.
In his regular ‘Perspectives' blog, Neale (pictured) said the Financial Services Compensation Scheme (FSCS) had been continuing to test contingency plans in the event of a crisis, such as the failure of a bank or building society but also in case of major failures by other parts of the industry. This included exercises simulating the failure of a bank and testing the FSCS's pay-out facilities. "This matters especially to the FSCS because our protection for consumers is an important safeguard of confidence and stability when a big financial failure or crisis occurs," said Neale. "...
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