Press Releases

The press releases shown below are available to download as Adobe PDF documents. To view Adobe PDFs, you may need to download Adobe Acrobat Reader first; alternatively a free copy of any of the press releases can be sent to you by post on request.


Press Releases issued in 2015

  • 15 May 2015 - Consumers could be in line for compensation after FSCS declares 62 firms in default
  • 06 May 2015 - Mark Adams joins Financial Services Compensation Scheme Board
  • 28 April 2015 - FSCS announces final levy for 2015/16 at £319m
  • 26 January 2015 - Consumers could be in line for compensation after FSCS declares13 firms in default
  • 20 January 2015 - FSCS publishes its Plan and Budget: 2015/16

Press Releases issued in 2014

  • 12 December 2014 - Major refund to fund managers from FSCS recoveries
  • 07 November 2014 - Default declarations pave the way for consumers to claim compensation from FSCS
  • 06 November 2014 - FSCS passes the billion pound mark for insurance compensation
  • 30 September 2014 - Consumers could be in line for compensation after FSCS declares 14 firms in default
  • 08 September 2014 - FSCS launches new 'Protecting Your Future' consumer awareness campaign 
  • 14 August 2014 - Consumers could be in line for compensation after FSCS declares 50 firms in default
  • 28 July 2014 - MPs call for insurers to do more to promote awareness of FSCS protection
  • 07 July 2014 - FSCS pays out £243m in compensation to consumers
  • 01 July 2014 - Saving for holidays: a priority for most
  • 28 May 2014 - Default declarations pave the way for consumers to claim compensation from FSCS
  • 28 April 2014 - Consumers could be in line for compensation after FSCS declares 19 firms in default.
  • 15 April 2014 - FSCS announces final levy for 2014/15 - down £37m on initial projection
  • 20 March 2014 - Savers need to be aware of compensation limits with creation of New ISA (NISA)
  • 12 March 2014 - Consumers could be in line for compensation after FSCS declares 30 firms in default
  • 27 February 2014 - FSCS announce no interim levy for 2013/14
  • 22 February 2014 - FSCS congratulates members celebrating 50 years of UK credit union movement
  • 11 February 2014 - Default declarations pave the way for consumers to claim compensation from FSCS
  • 21 January 2014 - FSCS publishes its Plan and Budget: 2014/15
  • 18 January 2014 - UK families op for multi-generational holidays
  • 11 January 2014 - One of the reasons why people are still saving – HOLIDAYS

Press Releases issued in 2013

    • 19 December 2013 - Compensation could be available to consumers after FSCS declares 34 firms in default
    • 16 November 2013 - Couples warned to keep their money safe as cash gifts top the wedding list
    • 14 November 2013 - Mark Neale speaks to building society leaders
    • 9 November 2013 - Parents of the bride and groom happy to share wedding day costs
    • 21 October 2013 - Consumers could be in line for compensation after FSCS declares 29 firms in default
    • 16 October 2013 - New FSCS tool lets consumers know if their savings are protected
    • 8 October 2013 - FSCS reveals Icesave’s impact five years after its collapse
    • 21 September 2013 - Credit unions adopt FSCS training module 
    • 31 August 2013 - Banks and building societies will keep boosting awareness of FSCS protection
    • 30 August 2013 - Consumers could be in line for compensation after FSCS declares 17 firms in default
    • 26 July 2013 - How can this Friday’s 100 British lottery winners protect their £1m prize?
    • 10 July 2013 - Default declarations pave the way for consumers to claim compensation from the FSCS
    • 4 July 2013 - FSCS pays out £326m in compensation to consumers and works towards streamlining its claims process in 2012/13.
    • 12 June 2013 - Default declarations pave the way for consumers to claim compensation from the FSCS
    • 16 May 2013 - FSCS welcomes the Launch of the International Forum of Insurance Guarantee Schemes
    • 29 April 2013 - PPI claims increasing says FSCS and consumers losing millions to claims companies
    • 27 April 2013 - Millions of adults incorrectly believe that FSCS covers a range of popular financial products
    • 18 April 2013 - FSCS sets 2013/14 levy at £285m, down from £311m
    • 10 April 2013 - MPs and public call for banks and building societies to do more to promote FSCS protection
    • 11 March 2013 - Default declarations pave the way for consumers to claim compensation from FSCS
    • 9 March 2013 - FSCS finds that Britons are still hoarding billions at home
    • 6 February 2013 - FSCS publishes its Plan and Budget 2013/14
    • 6 February 2013 - PPI claims to FSCS generate £20m for CMCs
    • 28 January 2013 - Default declarations pave the way for consumers to claim compensation from FSCS
    • 18 January 2013 - FSCS reaction to funding review announcement
    • 14 January 2013 - British public prepared to accept a greater risk to their health and family than money
    • 14 January 2013 - Financial crisis prompts cautious public mood
    • 14 January 2013 - FSCS launches phase two consumer awareness drive
    • 13 January 2013 - Consumers reluctant to put money into foreign banks and us unknown isurance brands
    • 12 January 2013 - 'Knowledge gap' exists around savings protection limits
    - New FSCS tool lets consumers know if their savings are protected

 


 

  Press Releases issued in 2012

  • 6 November 2012 - Default declarations pave the way for consumers to claim compensation from FSCS
  • 5 November 2012 - Default declarations pave the way for consumers to claim compensation from FSCS
  • 1 October 2012 - Default declaration paves way for consumer in the UK to claim compensation from FSCS
  • 14 September 2012 - 22 million adults changing their attitude to keeping money in banks
  • 14 September 2012 - Survey shows two thirds confident they would get their money back if a deposit taker failed
  • 31 August 2012 - UK banks, building societies and credit unions tell customers their savings and deposits are protected by FSCS
  • 20 August 2012 - Default declaration paves way for consumer in the UK to claim compensation from FSCS
  • 18 August 2012 - FSCS training module to help build customer confidence and support financial stability
  • 24 July 2012 - Christmas Prepayment Association members extend consumer protection to cover a banking failure
  • 5 July 2012 - £347m paid in compensation to more than 86,000 consumers over 2011/12
  • 15 May 2012 - MPs believe financial service firms should do more to inform consumers about FSCS
  • 27 April 2012 - FSCS sets 2012/13 levy at £265m
  • 16 April 2012 - Always check you’re covered, FSCS advises investors
  • 22 March 2012 - A nice problem for lucky Brits - Five out of seven Euro Millions jackpots in 2012 have been won by British residents
  • 17 March 2012 - Brits squirrel money away for a rainy day
  • 3 March 2012 - ISA safety more important to women than men, yet they know far less about the protective safety net
  • 25 February 2012 - £5.6 billion in cash at home with no protection
  • 11 February 2012 - Consumers could lose over £12 million to claims management companies
  • 2 February 2012 - FSCS publishes its Plan and Budget: 2012/13
  • 28 January 2012 - Over three quarters of PPI claims to FSCS made through claims management companies
  • 5 January 2012 - FSCS calls for the industry to play a powerful role in restoring consumer confidence

Press Releases issued in 2011

  • 14 December 2011 - More clarity on the way for consumers about deposit protection
  • 18 November 2011 - Northern Rock and Virgin Money savers reassured on compensation limits
  • 29 September 2011 - FSCS steps in to protect customers of Wilmslow Financial Services PLC (formerly trading as Freedom Finance)
  • 16 August 2011 - Default declarations pave the way for consumers to claim compensation from the FSCS
  • 1 July 2011 - FSCS pays out £535m in compensation and delivers faster payouts to consumers
  • 6 April 2011 - The FSCS sets annual levy at £217m
  • 2 March 2011 - FSCS declares Welcome Financial Services PLC in default
  • 17 February 2011 - FSCS response to HMT announcement on regulatory framework
  • 2 February 2011 - FSCS publishes its Plan and Budget: 2011/12
  • 27 January 2011 - FSCS steps in to protect members of South East Birmingham Community Credit Union
  • 20 January 2011 - FSCS announces 2010/11 interim levy for the costs of major investment failures
  • 14 January 2011 - FSCS compensates most members of Havant Area Savers Credit Union within new seven day target
  • 7 January 2011 - FSCS steps in to protect members of Havant Area Savers Credit Union  
  • 6 January 2011 - FSCS launches awareness programme today to boost consumer awareness
  • 6 January 2011 - FSCS launches awareness programme today to reassure consumers and boost confidence in financial products

 

Press Releases issued in 2010


 

Default declarations

  • 23 December 2010 - Default declarations pave the way for consumers in England to claim compensation from the FSCS
  • 23 December 2010 - Default declarations pave the way for consumers in the UK to claim compensation from the FSCS
  • 22 December 2010 - Default declarations pave the way for consumers in England and Scotland to claim compensation from the FSCS
  • 21 December 2010 - Default declarations pave the way for consumers in the UK to claim compensation from the FSCS
  • 3 September 2010 - Help on the way for members of Landsker Credit Union 
  • 1 July 2010 - Wills & Co Stockbrokers Limited declared in default
  • 26 April 2010 - Consumers able to claim up to £50,000 in compensation
  • 14 April 2010 - Redcar and District Credit Union declared in default
  • 14 April 2010 - 5 Mortgage Advisors declared in default

Press releases issued in 2009

  • 16 Dec 2009 - Director of Operations Appointed
  • 11 Dec 2009 - NDF / DRL and ARC - FSCS considering individual claims
  • 23 Oct 2009 - Deadline Approaches for Icesave Customers
  • 05 Oct 2009 - FSCS Chief Executive Loretta Minghella to step down in 2010
  • 31 Jul 2009 - FSCS publishes Annual Report 2008/09 
  • 29 Jul 2009 - FSCS announces first levy for bank failures of 2008
  • 24 Jul 2009 - Changes to compensation rules
  • 30 Mar 2009 - Interim levy for 2008/09 and levies for 2009/10
  • 12 Feb 2009 - FSCS publishes Plan and Budget: 2009/10

Default declarations

  • 07 Dec 2009 - 2 Credit Unions declared in default
  • 07 Dec 2009 - 3 Mortgage and Insurance Intermediaries declared in default
  • 07 Dec 2009 - 5 Insurance Intermediaries declared in default
  • 01 Dec 2009 - 15 Investment firms declared in default
  • 13 Nov 2009 - Keydata Investment Services declared in default
  • 14 Sep 2009 - 2 Mortgage advisers declared in default
  • 14 Sep 2009 - 2 Insurance intermediaries declared in default
  • 01 Sep 2009 - 4 Credit Unions declared in default
  • 11 Aug 2009 - 22 firms declared in default
  • 07 Aug 2009 - Picture Financial Services Plc declared in default
  • 24 Jul 2009 - Protection for customers of Global Trader Europe Ltd
  • 16 Jun 2009 - Lancs & South Yorks mortgage advisers declared in default
  • 04 Jun 2009 - Protection for customers of Echelon Wealth Management Ltd
  • 08 Apr 2009 - Consumers able to claim up to £48,000 in compensation
  • 23 Feb 2009 - FSCS declares Square Mile Securities Limited in default
  • 28 Jan 2009 - Pacific Continental Securities (UK) Limited declared in default
  • 14 Jan 2009 - 300 members of credit unions invited to claim compensation 

 Press releases issued in 2008

  • 05 Dec 2008 - FSCS urges Icesave customers to claim their compensation
  • 16 Nov 2008 - FSCS pays out £0.25bn to Icesave customers
  • 04 Nov 2008 - FSCS sends first email to over 200,000 UK Icesave customers
  • 24 Oct 2008 - Accelerated compensation process for Icesave customers
  • 24 Oct 2008 - FSCS starts paying compensation to Heritable Bank customers
  • 17 Oct 2008 - Heritable and Kaupthing Singer & Friedlander
  • 07 Oct 2008 - FSCS gears up to assist Icesave's UK branch customers
  • 10 Apr 2008 - Net levy contributions to decrease by £2.4 million
  • 06 Feb 2008 - FSCS Plan and Budget 2008/09 - A year of change
  • 30 Jan 2008 - Consultation on financial stability and depositor protection
  • 24 Jan 2008 - FSCS tops £1 billion in compensation

Default declarations

Press releases issued in 2007

Default declarations

Press releases issued in 2006

Default declarations

Press releases issued in 2005

  • 14 Nov 2005 - Endowment claims flood in to FSCS
  • 18 Jul 2005 - £175m compensation paid to consumers in 2004/05
  • 26 May 2005 - FSCS initial 2005/06 levy reduced for general insurers
  • 08 Apr 2005 - FSCS sets initial 2005/06 levy at £160.7m
  • 04 Mar 2005 - FSCS in talks to protect Exeter investors
  • 26 Jan 2005 - FSCS Plan and Budget 2005/06

Default declarations

Press releases issued in 2004

  • 08 Sep 2004 - FSCS appoints new Chief Executive
  • 05 Jul 2004 - FSCS calls for more funds 
  • 21 May 2004 - FSCS announces Interim Chief Executive
  • 25 Mar 2004 - FSCS announces 2004/05 levy requirements
  • 20 Jan 2004 - FSCS petitions House of Lords for leave to appeal Geologistics judgement

Default declarations

Press releases issued in 2003

Default declarations

Press releases issued in 2002

  • 26 Nov 2002 - Increases in the pensions review levy 2003/4
  • 06 Nov 2002 - FSCS Chief Executive is first Chair of EFDI
  • 09 Oct 2002 - FSCS launches consumer guide in 10 languages
  • 16 July 2002 - First Annual Report as a single compensation scheme
  • 02 July 2002 - Regulation of credit unions is a 'win-win' situation
  • 29 May 2002 - FSCS launches guide for investors
  • 13 May 2002 - FSCS announces £56.4m levy 2002/03
  • 25 April 2002 - New Group Manager, Insurance, for FSCS
  • 01 Mar 2002 - Policyholders Protection Board Reports and Accounts
  • 06 Feb 2002 - Final Report and Accounts for Deposit Protection Board
  • 07 Jan 2002 - £150m levy on general insurance firms

Default declarations

Press releases issued in 2001

 


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The FCA

The Financial Conduct Authority website includes a searchable database of all firms authorised and regulated by the FCA and the Prudential Regulation Authority (PRA).

The FOS

The Financial Ombudsman Service is the official independent expert in settling complaints between consumers and financial businesses

Jargon Buster

  • Credit union

    a financial co-operative which is owned and controlled by its members.
  • Deposits

    money placed in a bank or similar institution to earn interest or for safe-keeping.
  • EFDI

    European Forum of Deposit Insurers

  • In default

    A firm unable, or likely to be unable to pay claims against it. This will generally be because it has stopped trading and has insufficient assets to meet claims, or is in insolvency.
  • Investment

    a financial product in which money can be invested to earn interest or profit (although the value of investments can go down as well as up).