The Financial Services Compensation Scheme (FSCS) is the UK’s statutory compensation scheme for customers of authorised financial services firms. This means that FSCS can pay compensation if a firm is unable, or likely to be unable, to pay claims against it.
financial services compensation scheme meaning:[Economics] A body established under the UK Financial Services and Markets Act 2000 to provide compensation to customers of insolvent businesses or to those who have incurred losses as a result of bad...