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.
We have written before (see here) about the situation where a privacy notice (and if required, consent) is covered with say, one party of a couple but where that individual then provides personal data about his or her partner. In our experience, many firms are still not handling this correctly. Children Under the regulations, for […]
The rules that came into effect in October 2020 arrived under a headline objective of ‘banning contingent charging’. Inevitably, the simple rule required to achieve this seemingly straightforward outcome had to be accompanied by a fairly large retinue of supplementary rules and guidance. Definitely a case of the devil being in the detail. Much of […]
The Financial Conduct Authority (FCA), in May 2021, issued a Dear CEO letter entitled “Action needed in response to common control failings identified in anti-money laundering frameworks”. While this letter was issued to banks only, many of the key takeaways of the letter have wider application, notably within the financial advice sector. A copy of […]
We have recently issued a couple of newsletter articles relating to the changes being implemented by policy statement 21/05 “General Insurance Pricing Practices Market Study” that can be accessed from here. To assist our clients, ATEB has mapped the relevant rules for distributors to help them be ready when the changes are to be implemented. […]
Pension transfer advice – assessing transfer risk
Alistair MacDougall Compliance 2015, 2018, 2019, 2021, DBAAT, Drawdown, FCA, Pension, Pension Transfer, PI, transfer
It has been well publicised that the FCA has aimed increasingly close scrutiny in the direction of firms that have been providing advice in relation to defined benefit pension transfers. Apparently caught off guard by the then Chancellor’s introduction in the Pension Schemes Act 2015 of what are generally called ‘pension freedoms’, the regulator has […]