White paper: Call to end FSCS cross-subsidisation

In its February paper, the Treasury proposed maintaining the FSCS as a single organisation, although the Prudential Regulatory Authority and Financial Conduct Authority would be responsible for making compensation and taking fees in their respective areas. Summarising responses, the Treasury said: "A number of respondents wanted to see an end to cross-subsidy in the FSCS funding and sought clarification on whether the proposed approach to split rule-making between the two regulators implied an end to cross-subsidy between classes." Respondents also pointed out ongoing discussions in E...