Hidden dangers in Compensation Scheme?

bonaccord

An item in the press the other day reads:

"Advisers recommend spreading your savings between different
institutions

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however, if you split your accounts between different
firms be careful. Halifax, Bank of Scotland, Birmingham Midshires and
Intelligent Finance, for example, are all part of the same group and are
registered with the FSA under the name of Bank of Scotland.

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if you
invest with each only a total of £35,000 will be protected."

This raises two questions.

1. Is the above statement correct? If so people with savings in all four
could wrongly think that they would have safeguards (within the rules) in
all four cases.

2. If the statement is correct is there any source of information on the
internet that provides a list of all similar groupings?

Thanks for any help on this one.

Steve_xx

1. Yes it is correct.
2. See here:http://forums.moneysavingexpert.com/showthread.html?t=556344

regularsaver1

http://www.halifax.co.uk/HelpCentre/blc.asp?tag=HOME5