Regulator puts brakes on FSCS review
The Financial Services Authority (FSA) has put on hold plans to overhaul the Financial Services Compensation Scheme (FSCS) in the wake of this year’s sharp levy hike.
The British Insurance Brokers’ Association (Biba) received a letter from the FSA in which the regulator explained why it would not be completing its review of the FSCS funding arrangements.
The FSA told Biba: “ …there have been a number of dependencies throughout this review, including European proposals and changes to the regulatory landscape with the creation of the PRA and CPMA, which may have potential consequences for the structure and funding of the FSCS – and with this in mind, we
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