Funding the Financial Services Compensation Scheme: a submission from The SimplyBiz Group to the FCA’s FSCS Review team
As you may know, over the course of the past few months I have spoken at many events and written several articles about the manner through which the Financial Services Compensation Scheme is currently funded; a system which I believe to be grotesquely unjust.
I have today submitted a paper to the FCA’s FSCS review team highlighting the deep flaws within the current method of funding the Scheme and a solution which I believe would not only be more fair but would also increase market stability and create a broader collection base to shoulder the financial burden of funding the Scheme. I believe that radical reform of the FSCS is critically important to the future of the advice sector and needs to be addressed for the benefit of every adviser who is operating in the market today, providing an invaluable service to their clients.
Download the submission below:
- Funding the Financial Services Compensation Scheme
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A message from Ken Davy: 'Funding the Financial Services Compensation Scheme'