Graeme Trudgill ‘delighted’ to see FCA review funding of the FSCS
The British Insurance Brokers’ Association’s executive director, Graeme Trudgill has responded to the Financial Conduct Authority’s review of the funding of the Financial Services Compensation Scheme.
The FCA has revealed today the next steps it will take on improving the compensation framework.
The review was launched following concerns about the increasing cost of liabilities falling to the FSCS. The watchdog has aimed to make sure the compensation framework continues to provide an appropriate level of consumer protection.
Trudgill has responded to the FCA’s review stressing that the FSCS must be funded fairly.
He said: “BIBA’s 2022 Manifesto has a section entirely dedicated to our calls
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