FSCS Outlook April 2019

Outlook

News from the Financial Services Compensation Scheme

CEO's Statement

 

Welcome to the latest edition of Outlook. In this issue there's an update on our strategy for the 2020s, annual levy and management expense details, as well as a look at the new compensation limits and funding review.

Chief Executive's statement

Details of FSCS's final levies for the year ahead and important changes to the funding regime.

Levy update

The latest forecasts for the funding classes with final decisions on each class made in the New Year.

Sector overviews

Complete updates for each sector.

Management expenses

FSCS is likely to exceed its budget, mainly because of increases in outsourced claims processing from higher than expected Life & Pension advice volumes.

New compensation limits and funding review

FSCS’s limit has been raised to £85,000 for more of the financial activities and products it covers.

Case study: Recoveries work

Pursuing recoveries in accordance with FSCS rules helps offset against future levies.

Strategy update

2019/20 is the first year of our new strategy, FSCS into the 2020s: Protecting the Future. See our progress.

Caroline Rainbird to be new FSCS CEO

All change as CEO Mark Neale hands over to Caroline Rainbird, who'll be in post for the next three years.