The Financial Services Compensation Scheme (FSCS) is the United Kingdom's statutory compensation scheme for customers of UK-authorised financial services firms, established in 2001 under the Financial Services and Markets Act 2000 and funded through levies on those firms. It steps in to compensate customers when an authorised firm is unable to pay claims against it, covering deposits up to 120,000 pounds per person per firm, investments up to 85,000 pounds, and insurance claims at 90 percent with no upper limit, among other protected categories, and since its creation it has helped more than 4.5 million people and paid out more than 26 billion pounds.
Facts
Geography
Country or Jurisdiction ServedWikidata Q1416205, property P17 (country). Founding YearSourced to the subject's own account HeadquartersSourced to the subject's own account Classification
Institution SubtypeSourced to the subject's own account In the Other Atlases
Sources
1. Financial Services Compensation Scheme (Wikipedia)
WikipediaHistory section, first sentence
The FSCS came into existence in 2001 and replaced multiple former schemes.
Infobox, headquarters
London
View the Source 2. Wikidata
Wikimedia Foundation
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