About FSCS

The FSCS is the UK's compensation fund of last resort for customers of authorised financial services firms. We may pay compensation if a firm is unable, or likely to be unable, to pay claims against it. This is usually because it has stopped trading or has been declared in default.

Impartial and independent

We are independent of the government and the financial industry, and were set up under the Financial Services and Markets Act 2000, becoming operational on 1 December 2001 (although we still cover claims from before this date). We do not charge individual consumers for using our service.

Useful links


Publications

This section contains all our published collateral, from consumer guides, to policy statements and factsheets.

Perspectives

This is my regular industry blog in which I will provide updates on our work, the factors affecting our work and other important issues

Jargon Buster

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.