If your FSA-registered
stockbroker defaults, you will have access to
the Financial Services Compensation Scheme (www.fscs.org.uk),
which is funded by the industry. The first £30,000
of any proven claim will be met in full, and 90
per cent of the next £20,000 will be met
– with £48,000 being the maximum compensation
paid to any single claimant. Overall, the fund
will not pay out more than £100 million
in any single year. |
