FCA is consulting on whether to extend the protection of the Financial Services Compensation Scheme (FSCS) where an investment firm fails. FCA has concluded that the Financial Services Authority did not properly implement the Investor Compensation Schemes Directive when excluding certain unincorporated associations and partnerships. FSCS cover would now extend to all unincorporated associations irrespective of size and to large partnerships provided that they do not exceed the size over which large companies are excluded from compensation. (Source: FSCS - Unincorporated Associations and Partnerships)
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