Overseas Bodies

Cover and regulation for firms based overseas

Some firms operating in the UK are authorised in another EEA (European Economic Area) state.

If you have dealings with a firm authorised in another country, you might wish to check how its customers are covered. In some instances, FSCS might be able to provide cover for firms based in the EEA as well as branches of UK firms operating abroad.

FSCS is a signatory to the EFDI multilateral memorandum of understanding and has a memorandum of understanding with certain counterparts around the world to address bilateral arrangements.

Overseas compensation schemes

Similar schemes protect consumers in other countries.

FSCS engages with international counterparts on a regular basis and is an active member of the International Association of Deposit Insurers (IADI), the European Forum of Deposits Insurers (EFDI) and the International Forum of Insurance Guarantee Schemes (IFIGS).

Alex Kuczynski, Director of Corporate Affairs, is a member of IADI’s Executive Council, a director of EFDI and on the IFIGS executive committee. Karen Gibbons, Head of Policy and External Affairs, is Vice Chairperson of IADI’s European Regional Committee. Alex Kuczynski is also coordinator of EFDI’s EU Committee. IADI has 71 participants from around the world; EFDI has 56 members from 43 European countries. 

The organisations act as a forum for compensation schemes from around the world. Compensation schemes can share knowledge and expertise, and can carry out (and publish) research. Each organises training events and conferences. 

Some of FSCS’s international counterparts can be found on the links below, which link directly to the members for the relevant organisation. 


European Forum of Deposit Insurers (EFDI) 

International Association of Deposit Insurers 


EFDI Investor Compensation Scheme Working Group


International Forum of Insurance Guarantee Schemes 


Jargon Buster

  • Deposits

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

    European Economic Area.
  • EFDI

    European Forum of Deposit Insurers

  • IADI

    International Association of Deposit Insurers

  • 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).