UK: FSCS confident about N2
Article Abstract:
The UK Financial Services Compensation Scheme (FSCS) expects a seamless transition to the N2 regime on 30 November 2001, when six consumer compensation schemes will merge into the FSCS. Costs should be saved as a result of a the merger. Since February 2001, the FSCS has been operating the Investors Compensation Scheme. Professionals from the financial services industry will be invited to join three special committees of the FSCS, the deposit-taking committee, the insurance industry committee and the investment industry committee.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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UK: FSCS PUBLISHES ANNUAL REPORT
Article Abstract:
The UK's Financial Services Compensation Scheme (FSCS) has published its first annual report and has already assumed responsibility for the Investors' Compensation Scheme and Deposit Protection Scheme. The FSCS forecasts handling of 50 deposit and 4200 investment claims during 2001 and 2002, at a settling cost of GBu 50,000-100,000 and GBu61mn respectively.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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UK: FSA to trial web system
Article Abstract:
The UK Financial Services Authority will trial a web-based system in January 2003. The system will enable it to obtain data electronically from regulated companies, cutting the need for paper-based systems and saving key strokes. It will be based on XML, Internet data standard, aiming to automate, modernise and streamline the current system.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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