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 2019

  • 18 November 2019 - FSCS reaches out to thousands of remaining Alpha latent defect policyholders
  • 1 November 2019 - David Blackburn, FSCS Chief People Officer included in the OUTstanding LGBT+ Role Model Lists 2019
  • 9 October 2019 - FSCS making plans to help Reyker Securities customers
  • 2 October 2019 - FSCS declares Solent Credit Union in default
  • 19 September 2019 - FSCS opens to claims against SIPP operator Berkeley Burke SIPP Administration Ltd
  • 11 September 2019 - FSCS to compensate 5,500 members after East London Credit Union Ltd fails.
  • 19 August 2019 - FSCS to compensate Alpha Insurance latent defect insurance policy holders
  • 14 August 2019 - FSCS declares six firms in default in July
  • 5 August 2019 - Update for customers of SVS Securities
  • 29 July 2019 - Red Sands to provide replacement home insurance cover for LAMP policyholders
  • 17 July 2019 - FSCS declares 11 firms in default in June
  • 5 July 2019 - FSCS outlines its 2019/20 levy distribution
  • 5 July 2019 - Two wins for FSCS at first Diversity in Finance Awards
  • 28 June 2019 - FSCS investigations into LCF reveal protected claims that may result in compensation for some LCF investors
  • 27 June 2019 - FSCS publishes 2018/19 Annual Report and Account and Annual Report and Class Statements
  • 27 June 2019 - Richard Parkin appointed as a non-executive director to FSCS Board
  • 14 June 2019 - FSCS declares The Lifetime SIPP Company Ltd in default
  • 13 June 2019 - FSCS declares eight firms in default in May
  • 12 June 2019 - FSCS now open to claims against SIPP operator GPC SIPP Ltd
  • 10 June 2019 - Braniel Credit Union has failed
  • 5 June 2019 - LAMP Insurance Compnay Ltd has failed
  • 22 May 2019 - CFO Kathryn Sherratt departs
  • 17 May 2019 - FSCS decares 21 firms in default between 1 February - 30 April
  • 13 May 2019 - FSCS seeks to hire an inspirational partner to define its media channel, planning and buying strategy
  • 10 May 2019 - FSCS launches email news updates and explores grounds for LCF compensation 
  • 3 May 2019 - FSCS joins regulatory partners to form group on phoenixing
  • 30 April 2019 - FSCS announces final levy for 2019/20 at £532m
  • 15 April 2019 - Deadline further extended for CRL Management
  • 15 April 2019 - Caroline Rainbird the new CEO of FSCS
  • 11 April 2019 - Most people underestimate FSCS pension protection
  • 10 April 2019 - FSCS ensures thousands of Qudos customers receive replacement insurance policies
  • 9 April 2019 - Steelworkers get improved payout from FSCS
  • 2 April 2019 - FSCS to offer additional time off for staff whose babies are born prematurely
  • 1 April 2019 - FSCS extends its deadline to secure a better outcome for customers of CRL Management 
  • 1 April 2019 - Compensation limits change
  • 25 March 2019 - £300m recovered over five years for levy payers
  • 13 March 2019 - Outgoing FSCS Chief Executive calls for higher protection limits for a more limited range of products
  • 21 February 2019 - FSCS declares eight firms in default
  • 31 January 2019 - Supplementary levies for 2018/19
  • 29 January 2019 - A further 750 Beaufort clients get money and assets back, courtesy of FSCS and PwC
  • 23 January 2019 - FSCS appoints eight law firms to its legal panel
  • 16 January 2019 - FSCS declares six firms in default
  • 11 January 2019 - FSCS update on protecting Active Wealth customers

Press releases issued in 2018

  • 21 December 2018 - FSCS declared three firms in default during October and November 2018
  • 11 December 2018 - FSCS publishes research findings into cosumer awareness.
  • 14 November 2018 - FSCS publishes its strategy outlining its priorities for the 2020s
  • 14 November 2018 - Another 3,000 Beaufort clients get money and assets back
  • 7 November 2018 - Greater disclosure of FSCS protection by pension providers could unlock additional pension investment
  • 5 November 2018 - Hundreds of Welsh Beaufort clients get money and assets back, courtesy of FSCS and PwC
  • 25 October 2018 - FSCS declared five firms in default in September 2018
  • 11 October 2018 - Mark Neale to step down as CEO
  • 9 October 2018 - K&C Credit Union declared in default
  • 2 October 2018 - Alpha Insurance motorists transferred to new insurer via FSCS
  • 25 September 2018 - Funds returned to thousands of Beaufort clients thanks to FSCS compensation
  • 25 September 2018 - FSCS reflects 10 years after bank failures
  • 20 September 2018 - FSCS declares failure of six firms 
  • 04 September 2018 - Harp Credit Union Limited declared in default
  • 04 September 2018 - Dial-A-Cab Credit Union Limited declared in default
  • 29 August 2018 - Loans and Savings Abertawe Credit Union (UK) Limited (trading as My Community Bank Wales) declared in default
  • 22 August 2018 - Consumers could be in line for compensation after FSCS declares nine firms in default
  • 13 August 2018 - Good news for policyholders who had Guaranteed Asset Protection (GAP) cover with Alpha Insurance
  • 02 August 2018 - Good news for Beaufort clients as plan approved for returning funds 
  • 30 July 2018 - Polish Credit Union (UK) Limited declared in default
  • 12 July 2018 - Consumers could be in line for compensation after FSCS declares eight firms in default
  • 09 July 2018 -  Shiremoor and District Credit Union Limited declared in default
  • 28 June 2018 - FSCS puts nearly 70,000 customers back on track in 2017/18
  • 14 June 2018 - Consumers could be in line for compensation after FSCS declares eight firms in default
  • 07 June 2018 - FSCS repays Bradford & Bingley loan
  • 15 May 2018 - FSCS awards strategic sole partner contract to Capita
  • 11 May 2018 - Consumers could be in line for compensation after FSCS declares eight firms in default
  • 01 May 2018 - FSCS announces its final levy for 2018/19 at £407m
  • 16 April 2018 -  Consumers could be in line for compensation after FSCS declares 11 firms in default
  • 20 March 2018 - Protection scheme awareness alters how savers choose to fund retirement
  • 15 March 2018 - Consumers could be in line for compensation after FSCS declares 24 firms in default
  • 22 February 2018 - Fund managers due to get major refund from FSCS recoveries
  • 19 January 2018 - FSCS declares three SIPP operator firms in default 
  • 19 January 2018 - FSCS publishes its Plan and Budget 2018/19
  • 12 January 2018 - Consumers could be in line for compensation after FSCS declares 15 firms in default

Press releases issued in 2017

  • 23 November 2017 - Consumers could be in line for compensation after FSCS declares 33 firms in default
  • 06 October 2017 - Hurry up and spend - impatience is costing Brits up to £2,000 extra a year
  • 20 September 2017 - Ground-breaking new industry wide agreement to raise awareness of deposit protection for consumers
  • 14 September 2017 - FSCS protection has more than doubled since the financial crisis 
  • 06 September 2017 - Consumers could be in line for compensation after FSCS declares 17 firms in default
  • 19 July 2017 - Consumers could be in line for compensation after FSCS declares 25 firms in default
  • 13 July 2017 - FSCS compensation costs total £375m in 2016/17
  • 15 June 2017 - Apps can have a harmful effect on personal finances
  • 15 June 2017 - Nearly half of women shop in bed through apps
  • 22 April 2017 - FSCS continues to provide reassurance in times of uncertainty 
  • 20 April 2017 - Consumers could be in line for compensation after FSCS declares 19 firms in default 
  • 12 April 2017 - FSCS announces its final levy for 2017/18 at £363m
  • 1 April 2017 - New lifetime ISA is FSCS protected
  • 23 March 2017 - Consumers could be in line for compensation after FSCS declares 40 firms in default 
  • 27 January 2017 - Consumers could be in line for compensation after FSCS declares 31 firms in default

Press releases issued in 2016

  • 24 November 2016 - Consumers could be in line for compensation after FSCS declares 16 firms in default
  • 17 November 2016 - Children struggle to learn about money as parents hold on to purse strings
  • 28 October 2016 - Consumers could be in line for compensation after FSCS declares 25 firms in default
  • 14 October 2016 - Additional information for insurance brokers on Enterprise Insurance
  • 30 September 2016 - FSCS warns people with Enterprise Insurance motor policies to find new cover
  • 24 August 2016 - Consumers could be in line for compensation after FSCS declared 11 firms in default
  • 13 July 2016 - FSCS pays out £271m against failed financial services firms in one year
  • 04 July 2016 - Consumers could be in line for compensation after FSCS declares 24 firms in default
  • 10 May 2016 - Consumers could be in line for compensation after FSCS declares 27 firms in default
  • 01 March 2016 - Consumers could be in line for compensation after FSCS declares 16 firms in default
  • 19 January 2016 - FSCS publishes its Plan and Budget 2016/17

Press releases issued in 2015

  • 21 December 2015 - FSCS appoints Jimmy Barber as Chief Operating Officer and Kathryn Sherratt as Chief Financial Officer 
  • 15 December 2015 - Consumers could be in line for compensation after FSCS declares 24 firms in default
  • 24 September 2015 - Consumers could be in line for compensation after FSCS declares 42 firms in default
  • 16 July 2015 - FSCS pays out £327m in compensation to consumers
  • 3 July 2015 - Count down to new FSCS deposit limit underway
  • 19 June 2015 - FSCS hosts major international conference of investor compensation schemes
  • 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

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Press releases issued in 2007

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Press releases issued in 2006

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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

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Press releases issued in 2003

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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