HC Deb 25 June 1990 vol 175 c24W
Mr. Cousins

To ask the Secretary of State for Trade and Industry if he will list the investor and depositor compensation schemes his Department monitors in the financial services industries, together with the compensation ceilings, the date from which they operate, and the criteria for claims.

Mr. Redwood

The Policyholders Protection Act 1975 provides compensation for private policyholders if an authorised insurance company becomes insolvent. A total of 90 per cent. of any admissible claim will be paid. There is no limit on the size of claims. Responsibility for the investors' compensation scheme lies with the Securities and Investments Board.