FCA consults on FSCS rules and funding

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Consultation to close in March 2017 with proposals and further consultation to be published the following autumn.

The Financial Conduct Authority (FCA) has opened a consultation on the future funding of the Financial Services Compensation Scheme (FSCS) and a number of specific changes to its scheme rules.

The rules for the FSCS were last reviewed in March 2013.

Christopher Woolard, executive director of strategy and competition at the FCA said:

"The Financial Services Compensation Scheme plays a vital role in ensuring consumer confidence in financial services.

"We want to ensure protection for consumers and

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