Questions tagged [fscs]

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4
votes
2answers
198 views

Does the FSCS protect accounts held in Euros in the UK?

In short, I have a personal current account with a UK bank which holds funds in Euros. Is this account protected by the UK Financial Services Compensation Scheme (FSCS)? If so, is the limit based in ...
4
votes
1answer
84 views

Does the FSCS protection limit of £85K mean I have to spread my pension pot across different providers?

Considering the FSCS only pays compensation up to £85k in the event of a SIPP provider going bust, should I be spreading my pensions across different providers even if I predominantly invest in stock ...
3
votes
1answer
132 views

When buying funds in an ISA, who counts as "the institution" under the FSCS - the fund manager or the ISA provider?

I understand that investments are covered under the Financial Services Compensation Scheme (FSCS) up to £85,000 per institution. If I have a stocks and shares ISA with a broker (eg: Cavendish Online) ...
5
votes
2answers
415 views

Are large brokers audited to ensure client funds are ring-fenced?

In the UK we have a Financial Services Compensation Scheme (FSCS) that covers investors for up to £85,000 if their broker goes bankrupt. We also have a law stating that brokers must ring fence their ...
2
votes
0answers
762 views

How good is FSCS protection vs. eToro?

I'm looking into investing in eToro, and I'm concerned about understaing any risk involved besides the trades themselves. An eToro representative told me that, since I live in the UK, I'm covered for ...
2
votes
0answers
66 views

What regulations are in place to protect consumer's investments in UK?

I know about FSCS (Financial Services Compensation Scheme), which will cover you in case your broker defaults, but it will only cover up to 50K GBP for investments; not particularly much. What ...