Latest News
This is the latest information from FSCS
Latest deposit news
FSCS Statement - 1 July 2008
FSCS backs Tripartite proposals for strengthening compensation framework
The proposed changes to UK arrangements to deal with banks in difficulty, laid out in a consultation document published by the Tripartite authorities today, will do much to strengthen consumer protection and market confidence, the Financial Services Compensation Scheme said today.
Chief Executive, Loretta Minghella said: "The FSCS has been working closely with HM Treasury, the Financial Services Authority and the Bank of England on these wide ranging proposals for banking and compensation reform. We believe they will help to ensure we are in a better position to protect depositors, by paying compensation more quickly if a bank fails."
"The issues outlined in the consultation document are complex and finding the right solutions to the outstanding questions will be vitally important. We encourage people to respond to the consultation to make sure this is achieved."
The consultation document entitled, Financial stability and depositor protection: further consultation was published by the Tripartite authorities today. Copies are available from the Treasury website.
Compensation
- Our compensation limit for claims against banks, building societies or credit unions
- EEA firms that have topped up
- Our compensation arrangements for joint accounts and for people who hold accounts with more than one bank
- What would happen if your bank, building society or credit union became insolvent
Northern Rock plc
The Government has today (18 February 2008) decided to bring forward legislation that will enable Northern Rock plc to be taken into a period of temporary public ownership. The bank will continue to function as normal and deposits with the bank are safe. You can find more information about the announcement on the Treasury web site.
Consultation paper on financial stability and depositor protection
FSCS welcomes the consultation paper published today (30 January 2008) by the Tripartite authorities (the Treasury, the FSA and the Bank of England). The paper is entitled Financial stability and depositor protection: strengthening the framework. More information can be found on the Treasury website.
Consultation announcement on banking reform and deposit protection by the Treasury, FSA and Bank of England
On 11 October 2007, the Chancellor launched a discussion paper entitled Banking Reform - Protecting Depositors. The paper has been published by the Treasury, the FSA and the Bank of England. You can find more information on the Treasury website.
- More information about deposit claims
- Northern Rock plc: Treasury extension of wholesale guarantee arrangements - 18 December 2007
- Treasury announcement about Northern Rock Plc deposits - 9th October 2007
FSCS's Plan and Budget 2008/09
- Plan and Budget 2008/09 - download the publication
- FSCS press release on the Plan and Budget 2008/09
- Information for firms
Do you have a claim against any of the firms listed below?
Credit unions
- Edmonton Credit Union
- Inner Preston Credit Union
- Peterlee Credit Union
- Rotton Park and Winson Green Credit Union Ltd
- Streetcred Credit Union
Financial advisers
- Berkeley Independent Advisers (BIA)
- Berry Birch & Noble Financial Planning (Weston) Limited
- Global Trader Europe Limited
- Millfield Partnership Limited and Addiscombe Group Limited (formerly Inter-Alliance Group Plc
- Mortage Advisory Centre Limited
- Pacific Continental Securities (UK) Ltd
- Square Mile Securities Limited
Insurance brokers
- Flett Sinclair Insurance Brokers Limited / Petsure Limited
- Ideal Insurance Services Limited
- Your Health Plus Insurance Services Limited
Split capital investment trusts (splits)
General news
FSCS's Annual Report 2006/07
- FSCS Annual Report 2006/07: FSCS pays compensation of £150m in a year of improved service - Press release issued on 17 July 2007
- Annual Report 2006/07 - the full publication
- FSCS Industry Newsletter - Outlook Issue 17 - the key facts and figures
Consumer guide and online flowcharts:
- Download the How we can help leaflet
- Try our online flowcharts
Endowment claim?
Not sure if the firm you dealt with has been declared in default?
- Check our default database to see if the firm is listed
