FSCS declares 13 firms in default in December and January
FSCS has confirmed that the 13 firms below are in default – which means they have gone out of business.
FSCS has confirmed that the 13 firms below are in default – which means they have gone out of business.
The Financial Services Compensation Scheme (FSCS) publishes its Budget Update which outlines its proposed 2023/24 management expenses.
The FSCS provides compensation when certain authorised financial services firms are unable to meet claims against them.
The UK Financial Services Compensation Scheme (FSCS) confirms that 10 firms were declared in default in October and November 2022.
FSCS confirms unchanged 2022/23 levy forecast of £625 million and provides early indication of the 2023/24 levy.
Following a number of petitions by the FCA, the Court ordered that eight regulated financial services firms be wound up.
More consumers are in line for compensation, as the FSCS confirms that seven firms were declared in default in August and September.
On 31 October 2022, FSCS will be closing the LCF compensation scheme that FSCS has been administering on behalf of the government.
FSCS has confirmed that five firms were declared in default in June and July, which means they are unable to meet any claims themselves.
FSCS is now preparing to close the LCF compensation scheme that it has been administering on behalf of the government.