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Financial Services Compensation Scheme |
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Financial Services Compensation SchemeThe Financial Services Compensation Scheme is the sole financial compensatory scheme. It was set up by the Financial Services Authority (FSA) in December 2001, and replaced:Building Societies Investor Protection SchemeDeposit Protection SchemeFriendly Societies Protection SchemeInvestors Compensation SchemePIA Indemnity SchemePolicyholders Protection Boardhttp://www.fscs.org.ukSimilar MatchesFee based compensationFee based compensationPayment to a financial adviser of a set hourly rate, or an agreed-upon percentage of assets under management, for a financial plan. When the plan is implemented, the adviser may also receive commission on some or all of the investment products purchased, which would be fee-and-commission compensation. Full compensationFull compensationPayment for delivery of goods to one party by buying back more than 100 % of the value that was originally sold. Pensions Compensation BoardPensions Compensation BoardAn independent body set up on 6th April 1997 which pays compensation to individuals where money has been taken dishonestly from occupational pension scheme funds and the employer had become insolvent. CompensationCompensationArrangement under which the delivery of goods to a party is paid for by buying back a certain amount of the product from the recipient of the goods. Fee and commission compensationFee and commission compensationSee: Fee-based compensation Further SuggestionsInvestors Compensation SchemeCompensation Just Compensation Partial compensation Fee only compensation Deferred compensation |
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