The UK's Financial Conduct Authority wants to make some minor changes to the Financial Services Compensation Scheme, the country’s statutory compensation fund of last resort.

A new Consultation Paper (CP15/40) asks for people's views about changes to some of the rules in the so-called compensation sourcebook (COMP) that govern the operation of the FSCS. The regulator proposes:

• an increase in the non-investment (general and pure protection) insurance mediation compensation limit in relation to some types of insurance from 90% to 100%;
• to change the eligibility of occupational pension schemes' trustees to make claims on the FSCS; and
• to make express reference to how the compensation rules apply where a successor firm is in default or to assist the FSCS in handling claims.