FCA publishes new FSCS funding rules

Following its consultation in 2017, the FCA has now published its final rules on reformed FSCS funding.  These rules will take effect from April 2019.

Additionally the FCA has opened a consultation on draft rules relating to Professional Indemnity Insurance requirements for Personal Investment Firms, CP 18/11.  The proposed rules will require that policies do not limit claims where the policyholder or a third party is insolvent, or where a person other than the firm itself (eg the FSCS) is entitled to make a claim.

The consultation runs until 1 August 2018.