What is FSCS (Financial Services Compensation Scheme)?

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The Financial Services Compensation Scheme (FSCS) is the United Kingdom's statutory fund of last resort for customers of authorized financial services firms, providing compensation up to a set limit when a firm is unable to meet its obligations, thereby safeguarding consumer confidence in the financial system. Established under the Financial Services and Markets Act 2000 (FSMA), the FSCS is an independent body that protects deposits, investments, insurance policies, and mortgage advice.

FSCS (Financial Services Compensation Scheme)

What is FSCS (Financial Services Compensation Scheme)?

What are the current compensation limits and the range of financial products protected by the FSCS?

How is the FSCS funded, and what is the regulatory mechanism that underpins its operation?

Why is the FSCS considered a critical component of the UK's financial stability and regulatory architecture?

How does the FSCS claims process work, and what are the key eligibility criteria for receiving compensation?

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