FCA outlines PI threat in FSCS review
Watchdog says plans supported on compensation limits and funding classes but respondents outlined concerns over proposed clampdown over how investment firms buy PI cover.
The Financial Conduct Authority (FCA) has updated the market on its review of the Financial Services Compensation (FSCS) scheme.
The regulator stated that its plans to change funding classes and the FSCS compensation limits - to £85,000 for certain investment, finance and debt issues - were “supported” in its consultation.
Its plan to move pure protection intermediation from the Life and Pensions Intermediation funding class to the General Insurance Distribution funding class was also
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