In this market briefing, there will be an overview of the FSCS, its statutory basis, the rules set by regulators, and how it collaborates with the wider regulatory community. The briefing will also focus on the compensation paid out in recent years, including the recoveries process, with case studies illustrating how this offsets the levy.
Learning Objectives
At the end of this session, delegates will be able to:
- Summarise the FSCS, the rules that govern us, and what we cover
- Explain compensation payments, trends and levy classes
- Outline the recoveries process
About the Presenters
Josh Rendall, Stakeholder and Public Affairs Manager
Josh Rendall is a Stakeholder and Public Affairs Manager at FSCS since 2022. From 2019 to 2022 he was the Policy Manager at FSCS. Prior to FSCS, he worked at Hume Brophy (now Penta) leading aviation clients, especially with the US airline industry, with their public affairs and campaigns for a new Open Skies agreement post Brexit. Josh studied law at university and undertook his subsequent legal training in Cambodia. He is also a Councillor in Kensington and Chelsea and has been on the Council Cabinet since 2020. He currently leads the Adult Social Care and Public Health department.
Guy Enright, Recoveries Finance Manager
Guy is a chartered accountant, working with FSCS, the UK’s statutory protection scheme for customers of failed financial services companies. He leads the Finance team’s input into the recoveries function which seeks to get money back where compensation has been paid and reduces the cost of FSCS to the industry. The role includes regular reporting, budgeting and forecasting and ad hoc advice on the actual and potential financial impact of failure of firms to FSCS.
Insolvency processes often take many years to resolve, particularly in the insurance industry. Guy acts as FSCS’s representative on a number of creditors’ committees of firms which have become insolvent, including most of the recent investment bank special administrations involving brokers returning client money and assets.
Guy has extensive experience in insolvency and restructuring, particularly to the financial services industry.
