FSCS’s mission is to provide a trusted compensation service for customers when financial firms fail. This helps to raise public confidence in the financial services industry.
If an authorised financial firm fails and can’t pay claims against it, FSCS can step in to compensate customers. Set-up by parliament and funded by the financial services industry, FSCS is completely independent and free to use.
How we are funded
FSCS is fully funded by the financial services industry. See our How we are funded page for more details.
FSCS's governance and strategic direction is the responsibility of its Board of Directors. See its current makeup and that of the various committees on our Our governance page.
There are limits to the protection FSCS can provide. These are explained here.