Financial Services Compensation Scheme
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.uk
Full compensationFull compensation
Payment for delivery of goods to one party by buying back more than 100 % of the value that was originally sold.
1. The GATT principle that members who violate GATT rules must compensate other countries by lowering tariffs or making other concessions, or be subject to retaliation. 2. The actual or potential payment by the winners from a change in trade or other policy to the losers, intended to undo the harm to the latter. Actual compensation is rare, but the potential for compensation is used as the basis for most evaluations of the gains from trade.
Fee only compensationFee only compensation
Payment to a financial adviser of a set hourly rate, or an agreed-upon percentage of assets under management, for a financial plan.
Partial compensationPartial compensation
Incomplete payment for the delivery of goods to one party by buying back a certain amount of product from the same party.
Just CompensationJust Compensation
In condemnation the amount paid to the property owner. The theory is that in order to be "just," the property owner should be no richer or poorer than before the taking.
Further SuggestionsInvestors Compensation Scheme
Fee based compensation
Fee and commission compensation
Pensions Compensation Board