The Consumer Panel today welcomed the latest FSA proposals for the funding of the Financial Services Compensation Scheme.
The chairman of the Financial Services Consumer Panel, John Howard said: "Knowing the FSCS provides a lifeboat for clients if a financial provider or advisor sinks without trace, helps to boost consumers' confidence in financial services. However the existing system of funding the scheme is a bit of a blunt instrument. The new proposals will create a fairer system.
"The most important thing for consumers is that the FSCS is financially strong and administratively efficient and that's what these proposals should achieve."
