The FSA has already consulted on issue of pre-funding. Why is this latest consultation document raising the proposal again?
One main reason we did not pursue pre-funding in our earlier consultation is because it involved changing primary legislation and there were considerable practical difficulties involved. Our Policy Statement (PS07/19) concluded that pre-funding is not an appropriate mechanism for the funding of the FSCS at this time. As the barrier to change primary legislation has been removed we think it appropriate to raise the issue again.
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- The FSA has already consulted on issue of pre-funding. Why is this latest consultation document raising the proposal again?