Hartlepool Credit Union declared in default
APFA called for redistribution of fines to cover compensation cost
Wind-up had been delayed in February
CEO explains when and why FSCS pursues recovery action
FCA clarifies position on successor firm claims
To bring investment limits in line with insurance
Management costs reduced 2.5%
The chief executive of the Financial Services Compensation Scheme (FSCS) has defended its role, saying it does not pay out simply because appropriate investments performed badly.