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FSA consultation paper on changes to the FSCS
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KingL
Posts: 1,713 Forumite
FSA consults on changes to financial compensation scheme
FSA/PN/003/2009
07 January 2009
The Financial Services Authority (FSA) is today publishing a consultation paper setting out proposals for speeding up the payout of compensation to make it possible for customers to get back their money within seven days if a bank fails.
The critical importance of the Financial Services Compensation Scheme (FSCS) in paying out compensation to depositors has been emphasised by the events of recent months. As part of the wider banking reform work the Tripartite authorities and FSCS have committed to ensuring faster payout from the FSCS.
continues .....
http://www.fsa.gov.uk/pages/Library/Communication/PR/2009/003.shtml
The consultation paper will be open for responses until 6 April 2009
FSA/PN/003/2009
07 January 2009
The Financial Services Authority (FSA) is today publishing a consultation paper setting out proposals for speeding up the payout of compensation to make it possible for customers to get back their money within seven days if a bank fails.
The critical importance of the Financial Services Compensation Scheme (FSCS) in paying out compensation to depositors has been emphasised by the events of recent months. As part of the wider banking reform work the Tripartite authorities and FSCS have committed to ensuring faster payout from the FSCS.
continues .....
http://www.fsa.gov.uk/pages/Library/Communication/PR/2009/003.shtml
The consultation paper will be open for responses until 6 April 2009
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Someone asked for a direct link to the document:
http://www.fsa.gov.uk/pubs/cp/cp09_03.pdf0
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