The amount of compensation that the FSCS can award is complicated and varies depending on the product type.
As such, the links below are informative and provide for useful reference.
Guide to the Financial Services Compensation Scheme.
Link to the FSCS Products website. Use the menu on the left hand side to navigate to detailed information about different product types.
Important Note: ATEB news is intended to provide general information ONLY. The content, including any views expressed or guidance provided, does not replace the need to comply fully with FCA Rules and Guidance. Unless you have discussed news article content with ATEB, and specifically how it relates to your circumstances, then ATEB disclaims all liability and responsibility and actions arising from any reliance placed upon it. For the avoidance of doubt therefore, any reliance you place on such information without our consultation is at your own risk.
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Information only.
For reference and for validating the information that must be provided in your disclosure documentation.
As 2022 comes to an end, all our readers are probably thinking more about the imminent festivities and looking forward to a well earned break from what has undoubtedly been a difficult year in several obvious respects. We at ATEB are also looking forward to a few days off. However, without wishing to spoil […]
The FCA recently advised of incoming changes to how firms access FCA systems. In order to protect firms’ data, the FCA are to implement multi factor authentication (MFA). This will replace the current method used by firms to log into the FCA systems. Multi-factor authentication ensures only you access your accounts. Currently firms […]
As part of the Government’s reforms of previous EU legislation, next on the list is the proposal to scrap the 10% portfolio drop rule, which was introduced within MiFID II rules in January 2018. Under the legislation firms were required to notify clients where the overall value of their portfolio had fallen by 10% […]
We have received the following from the FCA. We want to draw attention to a new FCA publication; https://www.fca.org.uk/data/general-insurance-value-measures-jul-dec-2021 As you will be aware, in our General Insurance (GI) add-ons market study (MS14/1) we identified poor product value as an area of harm in general insurance. This has been caused by ineffective competition between providers […]
An ATEB reminder for all staff involved in insurance distribution activities
Michael Senior Compliance Conduct, FCA, P1, PI, Security
We thought it appropriate to issue a New Year reminder for firms that have staff … directly involved in the carrying on of the firm’s insurance distribution activities; or within the management structure responsible for the firm’s insurance distribution activities; or responsible for the supervision of a relevant employee acting in the capacity […]