Embark on a journey of knowledge! Take the quiz and earn valuable credits.
Challenge yourself and boost your learning! Start the quiz now to earn credits.
Unlock your potential! Begin the quiz, answer questions, and accumulate credits along the way.
The Financial Services Compensation Scheme (FSCS) is the UK's statutory deposit insurance and investors compensation scheme for customers of authorised financial services firms. This means that FSCS can pay compensation if a firm is unable, or likely to be unable, to pay claims against it. The FSCS is an operationally independent body, set up under the Financial Services and Markets Act 2000 (FSMA), and funded by a levy on authorised financial services firms. The scheme rules of the FSCS are made by the Financial Conduct Authority (FCA) and are contained in the FCA's Handbook. The FCA also appoint its Board and the FSCS is ultimately accountable to the FCA. The scheme covers deposits, insurance policies, insurance brokering, investments, mortgages and mortgage arrangement.
FSCS is free to consumers and, since 2001, has helped more than 4.5 million people and paid out more than £26 billion. Since 31 December, 2010, maintaining a single customer view has become mandatory for United Kingdom banks and other deposit takers due to new rules introduced by the FSCS.
referenceFull Form | Category |
---|---|
Faculty Student Collaborative Scholarship | Academic & Science |
Federal-State Cooperative System for Public Library Data Collection | Academic & Science |
Financial Services Compensation Scheme | Business |
Full Service Community Schools | Community |
Future Scout And Cavalry System | Community |
Fayetteville Street Christian School | Community |
Faithful Shepherd Catholic School | Community |
Federal State Cooperative System | General |
Fire Support Control System | Governmental |
Future Scout Cavalry system | Governmental |
Frente Sindical de la Costa Sur | International |
Posted on 28 Apr 2022, this text provides information on Miscellaneous in Business related to Business. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
Turn Your Knowledge into Earnings.
Ever curious about what that abbreviation stands for? fullforms has got them all listed out for you to explore. Simply,Choose a subject/topic and get started on a self-paced learning journey in a world of fullforms.
Write Your Comments or Explanations to Help Others