Biba "very concerned" about proposed FSCS cap rise

steve white biba april10

The Financial Services Authority (FSA) has put forward the change as part of its consultation on reforming the FSCS system.

But speaking about the proposal, Steve White, Biba's head of compliance, said: "We are very concerned that the financial cap on our sub-class is being raised by 50% to £300m.

"Our consultants will be closely studying the accompanying economic study of affordability, prepared by Deloitte and we will then respond accordingly."

And Biba also said it was concerned about the

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