Page 747 - 《期货和衍生品行业监管动态》（2022年合集）

期货和衍生品行业监管动态

The FSCS provides compensation when certain authorised financial services
firms are unable to meet claims against them. The FSCS provides vital protection for

consumers and helps ensure confidence in financial services.

The review was launched following concerns about the increasing cost of

compensation liabilities falling to the FSCS, which could create a barrier to firms

entering or wishing to stay in the market, potentially affecting the availability of some

financial services. The review aims to make sure the compensation framework

continues to provide an appropriate level of consumer protection, with costs to

industry distributed in a fair and sustainable way supporting innovation and growth.

The main theme from the feedback was the importance of firms improving their

conduct so there were fewer calls on the FSCS from mis sold products by failed firms.

Feedback also focused on the need for firms to be more financially resilient to address
the underlying causes of high redress liabilities.

For the next phase of the review, the FCA is planning to:

 review compensation limits to consider whether they remain at an

appropriate level for different types of claims

 review funding class thresholds to consider whether the class thresholds

remain at an appropriate level

 carry out consumer and firm research, in conjunction with the FSCS, to

improve the FCA’s understanding of the impact of FSCS protection on

consumer decision making, confidence and behaviour, and on firm behaviour

and incentives

Sheldon Mills, Executive Director of Consumers and Competition at the FCA,

said: ‘We welcome the constructive engagement and feedback which will inform the
next phase of this work.

‘We want to make sure the cost to industry for providing vital protection to

consumers through the FSCS is distributed in a fair and sustainable way – that the

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