Three in five investigations by the Financial Services Compensation Scheme result in no declaration of default by the body as firms can meet the costs of claims themselves, interim FSCS CEO Martyn Beauchamp has told Financial Planning Today editor Kevin O’Donnell in an exclusive interview.

The Financial Services Compensation Scheme (FSCS) has managed to keep management expenses for the coming year under control but still faces imposing a £129m levy increase in 2025/26.