tailieunhanh - Plan and Budget: 2013/14 Financial Services Compensation Scheme

The Company seeks to provide a comprehensive range of sub-funds with the purpose of spreading investment risk and satisfying the requirements of investors seeking income, capital conservation and growth. In carrying out the investment objectives of the Company, the Board of Directors at all times seeks to maintain an appropriate level of liquidity in the assets of the sub-funds so that redemptions of Shares under normal circumstances may be made without undue delay upon request by shareholders. Whilst using their best endeavours to attain the investment objectives, the Board of Directors cannot guarantee the extent to which these objectives will be achieved. The value of the. | Plan and Budget 2013 14 Financial Services Compensation Scheme Chapter 1 Chapter 2 Chapter 3 Business environment 2013 14 Plans Ò The numỉbe s the and strategy Ò levy in 2013 14 0 Contents Our role mission and aims Chairman s foreword Chief Executive s overview Chapter 3 The numbers the levy in 2013 14 Chapter 1 Business environment and strategy Chapter 2 2013 14 Plans 3 4 6 8 12 32 2 Previous I Next Ò Our role mission and aims 45 000 claims handled in 2012 13 Our mission Our mission is to provide a responsive well-understood and efficient compensation service for financial services which raises public confidence in the industry. Our role We are the UK s independent statutory compensation fund for customers of financial services firms authorised by the Financial Services Authority FSA . We can pay compensation if a firm is unable or likely to be unable to pay claims against it. Set up under the Financial Services and Markets Act 2000 FSMA FSCS became operational on 1 December 2001 and protects deposits insurance policies general insurance broking for business on or after 14 January 2005 investment business and home finance advice and arranging for business on or after 31 October 2004 . We are funded by levies on the industry and recoveries and borrowing where appropriate . You can find more information about our funding at industry. Our aims In taking forward our mission we aim to respond quickly efficiently and accurately to consumer claims for compensation raise public awareness of the protection provided by FSCS ensure that FSCS operates as cost efficiently as possible and maximises recoveries from the estates of failed providers be ready to respond to defaults in the financial services industry to protect consumers and financial stability and enhance the capability of FSCS by enabling the people who work for us to develop their skills knowledge and professionalism. The later sections of this plan and budget document discuss our plans regarding .