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UK Financial Services Authority: FSA consults further on FSCS Funding

( January 18, 2013, 12:03 GMT | Official Statement) -- MLex Summary: The UK Financial Services Authority proposed to create a Retail Pool of funds from brokers and investment firms, which would pay investors in case losses from the failure of a firm exceed the limits set in existing compensation schemes. The FSA also confirmed previously proposed changes to those limits, which would boost contributions from investment, insurance and credit brokers while cutting the cost on fund managers.The full text follows. Click on the attachment at the bottom for the consultation paper....

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