Financial Services Compensation Scheme

The Financial Services Compensation Scheme (FSCS) is the UK's statutory compensation scheme for customers of UK authorised financial services firms. This means it can step in to pay compensation if a firm is unable, or likely to be unable, to pay claims against it. Compensation can be in any form and by any method it determines is appropriate. It is an operationally independent body, set up under the Financial Services and Markets Act 2000 and funded by a levy on authorised financial services firms.