FSCS Outlook December 2019

Tuesday 17 Dec 2019 @ 12:10
FSCS

Welcome to the latest edition of Outlook where we discuss updates that have taken place since we published the previous edition in April this year.

Download the latest issue - pdf (1.6MB)

Chief Executive's statement

In her inaugural introduction to Outlook, CEO Caroline Rainbird provides an update of FSCS vision for the 2020s – Protecting the Future – that is set across the four pillars of Prepare, Protect, Promote and Prevent. This includes work with regulatory colleagues to tackle phoenixing, one of the areas of focus of the Prevent pillar.

Levy update

This shows the latest forecasts for the funding classes with final decisions on each class made in the new year.

Taking action

The case study shows how FSCS staff attended four outreach sessions in Port Talbot to meet with British Steel workers.

Management expenses

We are forecast to exceed our budget due to increases in outsourced claims relating mainly to pension and self-invested personal pension claims.

Recoveries update

Read about FSCS sale of its remaining claim in the UK bank Kaupthing Singer & Friedlander (KSF).

Download the latest issue - pdf (1.6MB)

This publication is available in different languages as well as in braille, large print, and as a recording. Please contact us for further details.

Older editions of Outlook are available via the archive link below.

Outlook archive

Channel website: https://www.fscs.org.uk/

Original article link: https://www.fscs.org.uk/news/fscs-news/outlook/

Share this article

Latest News from
FSCS

Almost £2billion lost in retirement savings since 2019, with men most likely to claim, new data from FSCS shows

18/04/2024 13:25:00

More than 43,000 claims have been received by the Financial Services Compensation Scheme (FSCS) since 2019 for total pensions losses reaching almost £2billion when authorised financial providers and advisors went out of business, according to new analysis of FSCS claims data, with four out of five made by men.

More than £54million recovered from failed financial providers in 2023/24, latest data from FSCS shows

09/04/2024 12:10:00

London – In the year ending March 2024, the Financial Services Compensation Scheme (FSCS) has recovered over £54million from the estates of failed financial services providers.

FSCS confirms nine firms have been declared in default in December 2023 and January 2024

16/02/2024 14:10:00

Regular notice that consumers could be in line for compensation.

Delivering for our customers in 2023

23/01/2024 13:10:00

With thousands of claims processed and millions paid in compensation to customers, 2023 was another challenging but rewarding year for the FSCS Customer team. Across the calendar year, a total of 61 financial firms were declared in default and we made 40,197 claim decisions for 27,145 customers. FSCS Chief Customer Officer, Sarah Marin, tells us more.

WIREDGOV