Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

COMP 2.1 Application and Purpose

Application

COMP 2.1.1R

This chapter applies to the FSCS.

Purpose

COMP 2.1.2G

In order to carry out its functions and put into effect the provisions set out in COMP 3 - COMP 12A1 (which deal with determining whether compensation is payable, calculating the amount of compensation that should be paid, and making levies on firms), the FSCS needs to have a variety of powers. The purpose of this chapter is to set out these powers, and the restrictions upon them.