Tagged: fscs

LendInvest Platform Update: Investors Now Covered by Financial Services Compensation Scheme

UK-based marketplace LendInvest announced on Tuesday individuals and small companies who invest through its online investment platform, are now covered by the Financial Services Compensation Scheme (FSCS). According to LendInvest, the majority of the lending platform investors may now be eligible for compensation in the event of a… Read More

The FCA Considers Bringing “Loan based Crowdfunding” Under FSCS Coverage

The Financial Services Compensation Scheme (FSCS) is an important aspect of investor protection in the UK.  Similar in function to the US FDIC, certain financial accounts are insured by the government against financial loss. During the past two years, the FSCS paid out £271 million… Read More

FSCS Deposit Limit to be Lowered. RateSetter Believes their Provision Fund is Better

The new FSCS deposit limit will kick in on January 1st, 2016.  The limit for individuals is being lowered from £85,000 to £75,000 to be in line with the European Union Deposit Guarantee Scheme which is designed to “harmonize” the limit across Europe to €100,000.  The… Read More

RateSetter Calls for a Refresh on “Outdated & Inefficient Safety Measures” for Savers

RateSetter, a leading UK peer to peer lending platform, has made a public call for a “refresh” on the Financial Services Compensation Scheme (FSCS).  In a public statement RateSetter declared, “the time has come for the Financial Services Compensation Scheme to act its age”.  RateSetter… Read More

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