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Risky financial firms may pay more to UK compensation fund, FCA's Bailey says

( October 31, 2016, 00:01 GMT | Official Statement) -- MLex Summary: UK financial firms with lower capital reserves and more customer complaints could be forced to make heightened contributions to the Financial Services Compensation Scheme from 2018, in a review of the workings of the lifeboat fund. Andrew Bailey, chief executive officer of the Financial Conduct Authority, has told Parliament members that the scope of the FSCS could be expanded to protect some consumer credit activities.The text of the statement follows. Click on the letters below....

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