FCA has published its feedback statement following its call for input into the protection the FSCS provides. The common message from respondents was that firms need to improve their conduct so that there are not so many calls on the FSCS in the future. FCA acknowledges this, and notes that it has already taken several steps towards this aim – including refusing to authorise 20% of firms that now apply, imposing increasing restrictions on firms generally, and giving the particular example of the measures it has put in place to prevent firms that advised on BSPS transfers from disposing of their assets. However, it notes the need to recognise that harms that have already occurred take some time to work through the pipeline and cause the ultimate claims on the FSCS. So, next year, FCA will look to review the compensation limits as well as looking to assess whether the funding class thresholds are still appropriate. It notes particular concerns of harm and ultimate compensation within retail investment markets.