FSCS

The Financial Services Compensation Scheme (FSCS) has cut its interim levy for investment intermediaries for 2012/13 from £25m to £20m, and has said it will not rule out pre-funding as a means of raising cash for the scheme.

Barclays Bank has agreed to compensate some customers affected by its takeover of ING Direct UK, if the move compromises savers' protection under the Financial Services Compensation Scheme (FSCS).

Brooks Macdonald's acquisition of Spearpoint helped drive a 44% rise in FUM in the second half of last year, although the firm continues to count the cost of RDR.

Nearly 1,500 members of the failed Severn Four Credit Union will get their money back within seven days after the Financial Services Compensation Scheme (FSCS) declared it in default today.

The Financial Services Authority (FSA) has confirmed that claims at the Financial Services Compensation Scheme (FSCS) relating to failed stockbroker Direct Sharedeal - which could total £13m - will be paid for by investment advisers.

The Financial Services Compensation Scheme (FSCS) has begun paying out the claims of investors who put money into contracts for difference (CfD) with trader Direct Sharedeal.

The Investment Management Association (IMA) has called on the Financial Services Authority (FSA) to increase the amount insurers and banks contribute to the Financial Services Compensation Scheme (FSCS) after warning fund managers faced cross-subsidies...

Panacea Adviser, a free online community for adviser firms, is calling for immediate action to overhaul the way in which the Financial Services Compensation Scheme (FSCS) is funded following yesterday's announcement of a £76m levy on investment intermediaries....

The Financial Services Compensation Scheme (FSCS) could receive an upper limit of 66,700 new claims in 2013/14.

The Financial Services Compensation Scheme (FSCS) will levy an estimated £76m on investment advisers in 2013/4, with failed firm Keydata highlighted as one of the main cases contributing to the overall bill.