Consumers could be in line for compensation after FSCS declared six firms in default.
The current level of funding and the financial structure of FOS will have to change, FCA chairman Charles Randell told the Treasure Committee today.
The Financial Services Compensation Scheme (FSCS) has revealed it has so far paid out £1.1m to former Active Wealth clients hit by the British Steel pensions debacle.
Consumers could be in line for compensation after FSCS declares three firms in default.
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