Brexit and FSCS protection

What a Brexit implementation period means

The UK left the EU at 23:00 GMT on 31 January 2020, and has entered an implementation period, which is due to operate until 31 December 2020.

During the implementation period, EU law and EU-derived domestic law will continue to apply. Passporting of firms between the UK and the EU will continue, as will consumer rights and protections derived from EU law. New EU legislation that takes effect before the end of the implementation period will also apply to the UK.

What this means for FSCS

As a result of the implementation period, FSCS expects there will be no changes to the scope of its protection before 31 December 2020 resulting from the UK’s exit from the EU.

Check our compensation limits