Monday Oct 10

The Financial Services Authority (FSA) is restarting the Financial Services Compensation Scheme (FSCS) funding review and hopes to formally consult in the first half of 2012.
The review initially started in October 2009 but was put on hold 12 months later due to uncertainties around the impact of UK regulatory reform on the FSCS, and the ongoing development of EU directives.
HM Treasury has now published its proposals on the future structure, rule making arrangements and accountability of the FSCS, and further progress is being made on the EU Deposit Guarantee Schemes Directive (DGSD).
In light of these developments, the FSA has decided it is time to restart the FSCS Funding Model Review (FFMR), looking at issues such as the composition of the nine funding classes, the levy thresholds applicable to each and their tariff bases. It hopes to formally consult in the first half of 2012.
Sheila Nicoll, director of conduct policy in the FSA, will lead the review
 

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