FSA spends £763k on delayed FSCS review
The Financial Services Authority (FSA) spent £763,000 on a review of the Financial Services Compensation Scheme (FSCS) only to then shelve it in 2010, Insurance Age has learnt.
The review was originally announced in July 2009 and a consultation paper was due to be published in late 2010 but the regulator suspended its investigation.
In response to a Freedom of Information request from Insurance Age, the FSA said it had postponed the review because "the government's decision to review the structure of the FSCS and proposals to amend European compensation scheme directives meant that formal consultation could not begin until we had clarity about these issues. The review
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