Regulator gives just four weeks for FSCS rule change discussion
The Financial Services Authority has published a consultation paper seeking views on proposed changes to the Financial Services Compensation Scheme (FSCS). However, the regulator has expressed a need for 'urgency' and has limited the process to four weeks. The aim of the consultation is to broaden the circumstances in which responsible persons (eg employers) and/or insurers can claim a contribution directly against the Scheme in mesothelioma cases.
Post Magazine first brought the issue to light six months ago, revealing how current FSCS rules mean the scheme would not pay its share of a settlement if other liable insurers were able to pay in
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