Check your settings below and select the cookies you’re happy with.

Strictly Necessary Cookies

These cookies are necessary for the website to function and cannot be switched off in our systems. They are usually only set in response to actions made by you which amount to a request for services, such as setting your privacy preferences, logging in or filling in forms. You can set your browser to block or alert you about these cookies, but some parts of the site will not then work. These cookies do not store any information which allows us to identify you unless you are logged into your account.

Performance Cookies

These cookies allow us to count visits and traffic sources so we can measure and improve the performance of our site. They help us to know which pages are the most and least popular and see how visitors move around the site. All information these cookies collect is aggregated and therefore anonymous. If you do not allow these cookies we will not know when you have visited our site and will not be able to monitor its performance.

Functional Cookies

These cookies enable the website to provide enhanced functionality and personalisation. They may be set by us or by third party providers whose services we have added to our pages. If you do not allow these cookies then some or all of these services may not function properly.

Targeting Cookies

These cookies may be set through our site by our advertising partners. They may be used by those companies to build a profile of your interests and show you relevant adverts on other sites. They do not store directly information which allows us to identify you personally but are based on uniquely identifying your browser and internet device. If you do not allow these cookies, you will experience less targeted advertising.

Find out more about www.allaboutcookies.org or view our cookie policy.

Skip to main content

Home
FCA Handbook
COMP
COMP 13
COMP 13.1 Application and Purpose

COMP 13.1 Application and Purpose

Application

COMP 13.1.1R01/01/2004

This chapter applies to:

(1)
every participant firm;
(2)
the FSCS; and
(3)
the Society.

COMP 13.1.2G01/01/2004

Firms which are not participant firms (such as certain types of incoming EEA firms, service companies and ICVCs) are not required to contribute towards the funding of the compensation scheme.

COMP 13.1.2AG01/12/2004

Although a member is a participant firm for the purposes of most provisions of COMP, a member is excluded from the definition of participant firm for the purposes of COMP 13 (see definition of participant firm in Glossary). This is because the fees levied in relation to the carrying on of insurance market activities by members will be imposed on Society rather than individually on each member (see COMP 13.4.21 R).

Purpose

COMP 13.1.3G01/12/2001

The purpose of this chapter is to set out the requirements on participant firms to pay levies imposed by the FSCS to provide funding for its functions.