Q&As

(A) is proposing to open a client account with a Swedish bank which states that the applicable compensation arrangements for depositors are under the Swedish Deposit Guarantee Scheme (max payable €100,000 euros per depositor) and it appears is not within the FSCS Compensation Scheme. Does a bank fall within section 87(1) of the Solicitors Act 1974?

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Published on LexisPSL on 17/12/2015

The following Financial Services Q&A provides comprehensive and up to date legal information covering:

  • (A) is proposing to open a client account with a Swedish bank which states that the applicable compensation arrangements for depositors are under the Swedish Deposit Guarantee Scheme (max payable €100,000 euros per depositor) and it appears is not within the FSCS Compensation Scheme. Does a bank fall within section 87(1) of the Solicitors Act 1974?

(A) is proposing to open a client account with a Swedish bank which states that the applicable compensation arrangements for depositors are under the Swedish Deposit Guarantee Scheme (max payable €100,000 euros per depositor) and it appears is not within the FSCS Compensation Scheme. Does a bank fall within section 87(1) of the Solicitors Act 1974?

The Financial Services and Markets Act 2000 (FSMA 2000), the Prudential Regulation

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