Ken Davy's submission to the FCA

29 Oct 2016

Funding the Financial Services Compensation Scheme: a submission from The SimplyBiz Group to the FCA’s FSCS Review team 

As you may know, over the course of the past few months I have spoken at many events and written several articles about the manner through which the Financial Services Compensation Scheme is currently funded; a system which I believe to be grotesquely unjust.      

I have today submitted a paper to the FCA’s FSCS review team highlighting the deep flaws within the current method of funding the Scheme and a solution which I believe would not only be more fair but would also increase market stability and create a broader collection base to shoulder the financial burden of funding the Scheme.  I believe that radical reform of the FSCS is critically important to the future of the advice sector and needs to be addressed for the benefit of every adviser who is operating in the market today,  providing an invaluable service to their clients. 

Download the submission below:

Funding the Financial Services Compensation Scheme
Funding the Financial Services Compensation Scheme

A message from Ken Davy: 'Funding the Financial Services Compensation Scheme'  

Updated 21/10/16 Download


Testimonials

"Still as good as when we first joined SimplyBiz, staff are always approachable, knowledgeable and friendly. Uncle Ken Davy is still a God in my opinion!"

Wayne Bedford
Brant Financial

Read More

Latest News

Fos report is a dollop of gruel for advisers

September 19, 2017

Cold porridge and cold comfort have a lot in common: such meagre offerings do not come close to being satisfying.

Read more >

Adviser Landscape

September 14, 2017

SimplyBiz Group Chairman, Ken Davy, gives us his unique perspective on the biggest industry issues of recent months.

Read more >

Back in the GDPR...

September 14, 2017

There is currently very little that we know with any certainty about what to expect from the UK’s Brexit negotiations.  Hard or soft? Single market or free trade area? Bad deal or no deal? 

Read more >

Taking a LEI-d back approach; MiFID II and Legal Entity Identifiers

September 14, 2017

The arrival of MiFID II will see a new section added to the FCA Handbook, which refers to the requirement to make transaction reports to the FCA with regards to certain financial instruments. 

Read more >