FSCS funding model review timescale revealed

It has been confirmed that the FSA will publish the FSCS funding model review consultation paper in Q3/Q4.

The FSA has revealed it will publish the FSCS funding model review consultation paper in Q3/Q4.

For the first time since November, the regulator has committed to a timescale and has said it will consult on reform to the FSCS funding model later this year. This information was hiding in a policy development update published yesterday.

The regulator was due to publish the consultation paper in November but delayed the review as the new regulatory structure was yet to be finalized.

An FSA spokeswoman says: “We have obviously made the point that we are committed to carrying out the review, and we had to delay it because of the creation of the two new regulatory authorities. We obviously want to get on with it as soon as we can. We will aim to try and do it this year but clearly that is going to be subject to what is happening with the regulatory reform programme.”

As usual, the consultation will be out for a three month period. Feedback is expected from the FSA in the first part of next year.

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