FSCS chief to step down

Loretta Minghella decides to leave after five year stint

Loretta Minghella, chief executive of the Financial Services Compensation Scheme (FSCS), has decided to step down next spring after five years in the role.

Commenting on the news, chairman David Hall said: "The board understands Loretta's decision but will be very sorry to see her leave. She has steered the organisation skilfully through extraordinary times, overseeing the delivery of over £21bn of compensation in a number of innovative ways. She has also made an important personal contribution

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FCA warns on Tempcover clone

The Financial Conduct Authority has issued a warning of fraudsters trying to scam people by pretending to be short-term car insurance specialist broker Tempcover including on TikTok.

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