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<br /> Financial Services Compensation Scheme<br /> Annual Report and Accounts 2014/15<br /> <br /> Financial Services Compensation Scheme<br /> Annual Report and Accounts 2014/15<br /> Presented to Parliament<br /> by the Economic Secretary to the Treasury<br /> by Command of Her Majesty<br /> July 2015<br /> CM 9082<br /> © Financial Services Compensation Scheme 2015<br /> The text of this document (this excludes, where present, the Royal Arms and all departmental or agency logos)<br /> may be reproduced free of charge in any format or medium provided that it is reproduced accurately and not<br /> in a misleading context.<br /> The material must be acknowledged as Financial Services Compensation Scheme copyright and the document<br /> title specified. Where third party material has been identified, permission from the respective copyright holder<br /> must be sought.<br /> Any enquiries related to this publication should be sent to us at enquiries@fscs.org.uk<br /> <a title="FSCS Annual Report 2014/15 page 1" href="http://viewer.zmags.com/publication/36b4d168?page=1"> Financial Services Compensation Scheme Annual Rep</a> <a title="FSCS Annual Report 2014/15 page 2" href="http://viewer.zmags.com/publication/36b4d168?page=2"> </a> <a title="FSCS Annual Report 2014/15 page 3" href="http://viewer.zmags.com/publication/36b4d168?page=3"> Financial Services Compensation Scheme Annual Rep</a> <a title="FSCS Annual Report 2014/15 page 4" href="http://viewer.zmags.com/publication/36b4d168?page=4"> © Financial Services Compensation Scheme 2015 The</a> <a title="FSCS Annual Report 2014/15 page 5" href="http://viewer.zmags.com/publication/36b4d168?page=5"> 5 Contents 08 10 Section 1 </a> <a title="FSCS Annual Report 2014/15 page 6" href="http://viewer.zmags.com/publication/36b4d168?page=6"> 6 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 7" href="http://viewer.zmags.com/publication/36b4d168?page=7"> Our Role, Mission and Aims 7 </a> <a title="FSCS Annual Report 2014/15 page 8" href="http://viewer.zmags.com/publication/36b4d168?page=8"> 8 FSCS Annual Report and Accounts 2014/15 Sec</a> <a title="FSCS Annual Report 2014/15 page 9" href="http://viewer.zmags.com/publication/36b4d168?page=9"> Section 1: The Year in Summary 9 </a> <a title="FSCS Annual Report 2014/15 page 10" href="http://viewer.zmags.com/publication/36b4d168?page=10"> </a> <a title="FSCS Annual Report 2014/15 page 11" href="http://viewer.zmags.com/publication/36b4d168?page=11"> 11 Section 2 Chairman’s Statement Chairman, L</a> <a title="FSCS Annual Report 2014/15 page 12" href="http://viewer.zmags.com/publication/36b4d168?page=12"> 12 FSCS Annual Report and Accounts 2014/15 ‘ </a> <a title="FSCS Annual Report 2014/15 page 13" href="http://viewer.zmags.com/publication/36b4d168?page=13"> Section 2: Chairman’s Statement 13 </a> <a title="FSCS Annual Report 2014/15 page 14" href="http://viewer.zmags.com/publication/36b4d168?page=14"> </a> <a title="FSCS Annual Report 2014/15 page 15" href="http://viewer.zmags.com/publication/36b4d168?page=15"> 15 Section 3 Chief Executive’s Report Mark Ne</a> <a title="FSCS Annual Report 2014/15 page 16" href="http://viewer.zmags.com/publication/36b4d168?page=16"> 16 FSCS Annual Report and Accounts 2014/15 ‘ </a> <a title="FSCS Annual Report 2014/15 page 17" href="http://viewer.zmags.com/publication/36b4d168?page=17"> Section 3: Chief Executive’s Report 17 </a> <a title="FSCS Annual Report 2014/15 page 18" href="http://viewer.zmags.com/publication/36b4d168?page=18"> 18 FSCS Annual Report and Accounts 2014/15 ‘</a> <a title="FSCS Annual Report 2014/15 page 19" href="http://viewer.zmags.com/publication/36b4d168?page=19"> Case study: Christopher Whaley </a> <a title="FSCS Annual Report 2014/15 page 20" href="http://viewer.zmags.com/publication/36b4d168?page=20"> Our mission is to provide a responsive, well-unde</a> <a title="FSCS Annual Report 2014/15 page 21" href="http://viewer.zmags.com/publication/36b4d168?page=21"> 21 Section 4 Our Vision for a Confident Futur</a> <a title="FSCS Annual Report 2014/15 page 22" href="http://viewer.zmags.com/publication/36b4d168?page=22"> 22 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 23" href="http://viewer.zmags.com/publication/36b4d168?page=23"> Section 4: Our Vision for a Confident Future – On</a> <a title="FSCS Annual Report 2014/15 page 24" href="http://viewer.zmags.com/publication/36b4d168?page=24"> Case study: Icesave Icesave – pursuing the rec</a> <a title="FSCS Annual Report 2014/15 page 25" href="http://viewer.zmags.com/publication/36b4d168?page=25"> 25 (the Dutch Cent</a> <a title="FSCS Annual Report 2014/15 page 26" href="http://viewer.zmags.com/publication/36b4d168?page=26"> We aim to respond quickly, efficiently and accura</a> <a title="FSCS Annual Report 2014/15 page 27" href="http://viewer.zmags.com/publication/36b4d168?page=27"> 27 Section 5 Responding to Consumers A summar</a> <a title="FSCS Annual Report 2014/15 page 28" href="http://viewer.zmags.com/publication/36b4d168?page=28"> 28 FSCS Annual Report and Accounts 2014/15 ‘ </a> <a title="FSCS Annual Report 2014/15 page 29" href="http://viewer.zmags.com/publication/36b4d168?page=29"> Section 5: Responding to Consumers 29 </a> <a title="FSCS Annual Report 2014/15 page 30" href="http://viewer.zmags.com/publication/36b4d168?page=30"> 30 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 31" href="http://viewer.zmags.com/publication/36b4d168?page=31"> Section 5: Responding to Consumers 31 </a> <a title="FSCS Annual Report 2014/15 page 32" href="http://viewer.zmags.com/publication/36b4d168?page=32"> 32 FSCS Annual Report and Accounts 2014/15 ‘ </a> <a title="FSCS Annual Report 2014/15 page 33" href="http://viewer.zmags.com/publication/36b4d168?page=33"> Section 5: Responding to Consumers 33 </a> <a title="FSCS Annual Report 2014/15 page 34" href="http://viewer.zmags.com/publication/36b4d168?page=34"> 34 FSCS Annual Report and Accounts 2014/15 ‘ </a> <a title="FSCS Annual Report 2014/15 page 35" href="http://viewer.zmags.com/publication/36b4d168?page=35"> Section 5: Responding to Consumers 35 </a> <a title="FSCS Annual Report 2014/15 page 36" href="http://viewer.zmags.com/publication/36b4d168?page=36"> 36 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 37" href="http://viewer.zmags.com/publication/36b4d168?page=37"> Section 5: Responding to Consumers 37 Consum</a> <a title="FSCS Annual Report 2014/15 page 38" href="http://viewer.zmags.com/publication/36b4d168?page=38"> 38 FSCS Annual Report and Accounts 2014/15 Ho</a> <a title="FSCS Annual Report 2014/15 page 39" href="http://viewer.zmags.com/publication/36b4d168?page=39"> Section 5: Responding to Consumers 39 </a> <a title="FSCS Annual Report 2014/15 page 40" href="http://viewer.zmags.com/publication/36b4d168?page=40"> 40 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 41" href="http://viewer.zmags.com/publication/36b4d168?page=41"> Section 5: Responding to Consumers 41 Can w</a> <a title="FSCS Annual Report 2014/15 page 42" href="http://viewer.zmags.com/publication/36b4d168?page=42"> 42 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 43" href="http://viewer.zmags.com/publication/36b4d168?page=43"> Section 5: Responding to Consumers 43 </a> <a title="FSCS Annual Report 2014/15 page 44" href="http://viewer.zmags.com/publication/36b4d168?page=44"> Report from the Independent Investigator Three</a> <a title="FSCS Annual Report 2014/15 page 45" href="http://viewer.zmags.com/publication/36b4d168?page=45"> Case study: Alan White Small investor says FSC</a> <a title="FSCS Annual Report 2014/15 page 46" href="http://viewer.zmags.com/publication/36b4d168?page=46"> We aim to raise public awareness of the protectio</a> <a title="FSCS Annual Report 2014/15 page 47" href="http://viewer.zmags.com/publication/36b4d168?page=47"> 47 Section 6 Raising Awareness of FSCS Boosti</a> <a title="FSCS Annual Report 2014/15 page 48" href="http://viewer.zmags.com/publication/36b4d168?page=48"> 48 FSCS Annual Report and Accounts 2014/15 ‘ </a> <a title="FSCS Annual Report 2014/15 page 49" href="http://viewer.zmags.com/publication/36b4d168?page=49"> Section 6: Raising Awareness of FSCS 49 </a> <a title="FSCS Annual Report 2014/15 page 50" href="http://viewer.zmags.com/publication/36b4d168?page=50"> 50 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 51" href="http://viewer.zmags.com/publication/36b4d168?page=51"> Section 6: Raising Awareness of FSCS 51 S</a> <a title="FSCS Annual Report 2014/15 page 52" href="http://viewer.zmags.com/publication/36b4d168?page=52"> 52 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 53" href="http://viewer.zmags.com/publication/36b4d168?page=53"> Section 6: Raising Awareness of FSCS 53 </a> <a title="FSCS Annual Report 2014/15 page 54" href="http://viewer.zmags.com/publication/36b4d168?page=54"> We aim to ensure that we operate as cost-efficien</a> <a title="FSCS Annual Report 2014/15 page 55" href="http://viewer.zmags.com/publication/36b4d168?page=55"> 55 Section 7 FSCS Finances: Compensation, Mana</a> <a title="FSCS Annual Report 2014/15 page 56" href="http://viewer.zmags.com/publication/36b4d168?page=56"> 56 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 57" href="http://viewer.zmags.com/publication/36b4d168?page=57"> Case study: Marion Price FSCS steps in after i</a> <a title="FSCS Annual Report 2014/15 page 58" href="http://viewer.zmags.com/publication/36b4d168?page=58"> 58 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 59" href="http://viewer.zmags.com/publication/36b4d168?page=59"> Section 7: FSCS Finances: Compensation, Managemen</a> <a title="FSCS Annual Report 2014/15 page 60" href="http://viewer.zmags.com/publication/36b4d168?page=60"> 60 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 61" href="http://viewer.zmags.com/publication/36b4d168?page=61"> Section 7: FSCS Finances: Compensation, Managemen</a> <a title="FSCS Annual Report 2014/15 page 62" href="http://viewer.zmags.com/publication/36b4d168?page=62"> 62 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 63" href="http://viewer.zmags.com/publication/36b4d168?page=63"> Section 7: FSCS Finances: Compensation, Managemen</a> <a title="FSCS Annual Report 2014/15 page 64" href="http://viewer.zmags.com/publication/36b4d168?page=64"> 64 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 65" href="http://viewer.zmags.com/publication/36b4d168?page=65"> </a> <a title="FSCS Annual Report 2014/15 page 66" href="http://viewer.zmags.com/publication/36b4d168?page=66"> 66 FSCS Annual Report and Accounts 2014/15 Re</a> <a title="FSCS Annual Report 2014/15 page 67" href="http://viewer.zmags.com/publication/36b4d168?page=67"> Section 7: FSCS Finances: Compensation, Managemen</a> <a title="FSCS Annual Report 2014/15 page 68" href="http://viewer.zmags.com/publication/36b4d168?page=68"> 68 FSCS Annual Report and Accounts 2014/15 ‘ </a> <a title="FSCS Annual Report 2014/15 page 69" href="http://viewer.zmags.com/publication/36b4d168?page=69"> Section 7: FSCS Finances: Compensation, Managemen</a> <a title="FSCS Annual Report 2014/15 page 70" href="http://viewer.zmags.com/publication/36b4d168?page=70"> 70 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 71" href="http://viewer.zmags.com/publication/36b4d168?page=71"> Case study: Mary McCurrie No panic when credit</a> <a title="FSCS Annual Report 2014/15 page 72" href="http://viewer.zmags.com/publication/36b4d168?page=72"> We aim to be ready to respond to failures in the </a> <a title="FSCS Annual Report 2014/15 page 73" href="http://viewer.zmags.com/publication/36b4d168?page=73"> 73 Section 8 Deepening Contingency Planning W</a> <a title="FSCS Annual Report 2014/15 page 74" href="http://viewer.zmags.com/publication/36b4d168?page=74"> 74 FSCS Annual Report and Accounts 2014/15 ‘ </a> <a title="FSCS Annual Report 2014/15 page 75" href="http://viewer.zmags.com/publication/36b4d168?page=75"> Section 8: Deepening Contingency Planning 75 </a> <a title="FSCS Annual Report 2014/15 page 76" href="http://viewer.zmags.com/publication/36b4d168?page=76"> We aim to enhance our capability by developing th</a> <a title="FSCS Annual Report 2014/15 page 77" href="http://viewer.zmags.com/publication/36b4d168?page=77"> 77 Section 9 Engaging Our People During 2014 </a> <a title="FSCS Annual Report 2014/15 page 78" href="http://viewer.zmags.com/publication/36b4d168?page=78"> 78 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 79" href="http://viewer.zmags.com/publication/36b4d168?page=79"> Section 9: Engaging Our People 79 ‘ FSCS empl</a> <a title="FSCS Annual Report 2014/15 page 80" href="http://viewer.zmags.com/publication/36b4d168?page=80"> 80 FSCS Annual Report and Accounts 2014/15 ‘ </a> <a title="FSCS Annual Report 2014/15 page 81" href="http://viewer.zmags.com/publication/36b4d168?page=81"> Section 9: Engaging Our People 81 </a> <a title="FSCS Annual Report 2014/15 page 82" href="http://viewer.zmags.com/publication/36b4d168?page=82"> 82 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 83" href="http://viewer.zmags.com/publication/36b4d168?page=83"> Section 9: Engaging Our People 83 April 2015 I</a> <a title="FSCS Annual Report 2014/15 page 84" href="http://viewer.zmags.com/publication/36b4d168?page=84"> 84 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 85" href="http://viewer.zmags.com/publication/36b4d168?page=85"> Section 9: Engaging Our People 85 </a> <a title="FSCS Annual Report 2014/15 page 86" href="http://viewer.zmags.com/publication/36b4d168?page=86"> </a> <a title="FSCS Annual Report 2014/15 page 87" href="http://viewer.zmags.com/publication/36b4d168?page=87"> 87 Section 10 Our Governance FSCS is a compan</a> <a title="FSCS Annual Report 2014/15 page 88" href="http://viewer.zmags.com/publication/36b4d168?page=88"> 88 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 89" href="http://viewer.zmags.com/publication/36b4d168?page=89"> Section 10: Our Governance 89 In</a> <a title="FSCS Annual Report 2014/15 page 90" href="http://viewer.zmags.com/publication/36b4d168?page=90"> 90 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 91" href="http://viewer.zmags.com/publication/36b4d168?page=91"> Section 10: Our Governance 91 Co</a> <a title="FSCS Annual Report 2014/15 page 92" href="http://viewer.zmags.com/publication/36b4d168?page=92"> 92 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 93" href="http://viewer.zmags.com/publication/36b4d168?page=93"> Section 10: Our Governance 93 3.</a> <a title="FSCS Annual Report 2014/15 page 94" href="http://viewer.zmags.com/publication/36b4d168?page=94"> 94 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 95" href="http://viewer.zmags.com/publication/36b4d168?page=95"> Section 10: Our Governance 95 At</a> <a title="FSCS Annual Report 2014/15 page 96" href="http://viewer.zmags.com/publication/36b4d168?page=96"> 96 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 97" href="http://viewer.zmags.com/publication/36b4d168?page=97"> Section 10: Our Governance 97 In</a> <a title="FSCS Annual Report 2014/15 page 98" href="http://viewer.zmags.com/publication/36b4d168?page=98"> 98 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 99" href="http://viewer.zmags.com/publication/36b4d168?page=99"> Section 10: Our Governance 99 Th</a> <a title="FSCS Annual Report 2014/15 page 100" href="http://viewer.zmags.com/publication/36b4d168?page=100"> 100 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 101" href="http://viewer.zmags.com/publication/36b4d168?page=101"> Section 10: Our Governance 101 C</a> <a title="FSCS Annual Report 2014/15 page 102" href="http://viewer.zmags.com/publication/36b4d168?page=102"> 102 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 103" href="http://viewer.zmags.com/publication/36b4d168?page=103"> Section 10: Our Governance 103 </a> <a title="FSCS Annual Report 2014/15 page 104" href="http://viewer.zmags.com/publication/36b4d168?page=104"> 104 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 105" href="http://viewer.zmags.com/publication/36b4d168?page=105"> Section 10: Our Governance 105 Executi</a> <a title="FSCS Annual Report 2014/15 page 106" href="http://viewer.zmags.com/publication/36b4d168?page=106"> 106 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 107" href="http://viewer.zmags.com/publication/36b4d168?page=107"> Section 10: Our Governance 107 Notes:</a> <a title="FSCS Annual Report 2014/15 page 108" href="http://viewer.zmags.com/publication/36b4d168?page=108"> 108 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 109" href="http://viewer.zmags.com/publication/36b4d168?page=109"> Section 10: Our Governance 109 T</a> <a title="FSCS Annual Report 2014/15 page 110" href="http://viewer.zmags.com/publication/36b4d168?page=110"> 110 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 111" href="http://viewer.zmags.com/publication/36b4d168?page=111"> List of acronyms B&B Bradford & Bingley plc </a> <a title="FSCS Annual Report 2014/15 page 112" href="http://viewer.zmags.com/publication/36b4d168?page=112"> </a> <a title="FSCS Annual Report 2014/15 page 113" href="http://viewer.zmags.com/publication/36b4d168?page=113"> 113 Section 11 Strategic Report for the year e</a> <a title="FSCS Annual Report 2014/15 page 114" href="http://viewer.zmags.com/publication/36b4d168?page=114"> 114 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 115" href="http://viewer.zmags.com/publication/36b4d168?page=115"> Section 11: Strategic Report, Directors’ Report a</a> <a title="FSCS Annual Report 2014/15 page 116" href="http://viewer.zmags.com/publication/36b4d168?page=116"> 116 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 117" href="http://viewer.zmags.com/publication/36b4d168?page=117"> Section 11: Strategic Report, Directors’ Report a</a> <a title="FSCS Annual Report 2014/15 page 118" href="http://viewer.zmags.com/publication/36b4d168?page=118"> 118 FSCS Annual Report and Accounts 2014/15 T</a> <a title="FSCS Annual Report 2014/15 page 119" href="http://viewer.zmags.com/publication/36b4d168?page=119"> Section 11: Strategic Report, Director’s Report a</a> <a title="FSCS Annual Report 2014/15 page 120" href="http://viewer.zmags.com/publication/36b4d168?page=120"> 120 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 121" href="http://viewer.zmags.com/publication/36b4d168?page=121"> Section 11: Strategic Report, Directors’ Report a</a> <a title="FSCS Annual Report 2014/15 page 122" href="http://viewer.zmags.com/publication/36b4d168?page=122"> 122 FSCS Annual Report and Accounts 2014/15 F</a> <a title="FSCS Annual Report 2014/15 page 123" href="http://viewer.zmags.com/publication/36b4d168?page=123"> Section 11: Director’s Report and Accounts 123 </a> <a title="FSCS Annual Report 2014/15 page 124" href="http://viewer.zmags.com/publication/36b4d168?page=124"> 124 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 125" href="http://viewer.zmags.com/publication/36b4d168?page=125"> Section 11: Strategic Report, Directors’ Report a</a> <a title="FSCS Annual Report 2014/15 page 126" href="http://viewer.zmags.com/publication/36b4d168?page=126"> 126 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 127" href="http://viewer.zmags.com/publication/36b4d168?page=127"> Section 11: Strategic Report, Directors’ Report a</a> <a title="FSCS Annual Report 2014/15 page 128" href="http://viewer.zmags.com/publication/36b4d168?page=128"> 128 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 129" href="http://viewer.zmags.com/publication/36b4d168?page=129"> Section 11: Strategic Report, Directors’ Report a</a> <a title="FSCS Annual Report 2014/15 page 130" href="http://viewer.zmags.com/publication/36b4d168?page=130"> 130 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 131" href="http://viewer.zmags.com/publication/36b4d168?page=131"> Section 11: Strategic Report, Directors’ Report a</a> <a title="FSCS Annual Report 2014/15 page 132" href="http://viewer.zmags.com/publication/36b4d168?page=132"> 132 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 133" href="http://viewer.zmags.com/publication/36b4d168?page=133"> Section 11: Strategic Report, Directors’ Report a</a> <a title="FSCS Annual Report 2014/15 page 134" href="http://viewer.zmags.com/publication/36b4d168?page=134"> 134 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 135" href="http://viewer.zmags.com/publication/36b4d168?page=135"> Section 11: Strategic Report, Directors’ Report a</a> <a title="FSCS Annual Report 2014/15 page 136" href="http://viewer.zmags.com/publication/36b4d168?page=136"> 136 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 137" href="http://viewer.zmags.com/publication/36b4d168?page=137"> Section 11: Strategic Report, Directors’ Report a</a> <a title="FSCS Annual Report 2014/15 page 138" href="http://viewer.zmags.com/publication/36b4d168?page=138"> 138 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 139" href="http://viewer.zmags.com/publication/36b4d168?page=139"> Section 11: Strategic Report, Directors’ Report a</a> <a title="FSCS Annual Report 2014/15 page 140" href="http://viewer.zmags.com/publication/36b4d168?page=140"> 140 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 141" href="http://viewer.zmags.com/publication/36b4d168?page=141"> Section 11: Strategic Report, Directors’ Report a</a> <a title="FSCS Annual Report 2014/15 page 142" href="http://viewer.zmags.com/publication/36b4d168?page=142"> 142 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 143" href="http://viewer.zmags.com/publication/36b4d168?page=143"> Section 11: Strategic Report, Directors’ Report a</a> <a title="FSCS Annual Report 2014/15 page 144" href="http://viewer.zmags.com/publication/36b4d168?page=144"> 144 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 145" href="http://viewer.zmags.com/publication/36b4d168?page=145"> Section 11: Strategic Report, Directors’ Report a</a> <a title="FSCS Annual Report 2014/15 page 146" href="http://viewer.zmags.com/publication/36b4d168?page=146"> 146 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 147" href="http://viewer.zmags.com/publication/36b4d168?page=147"> Section 11: Strategic Report, Directors’ Report a</a> <a title="FSCS Annual Report 2014/15 page 148" href="http://viewer.zmags.com/publication/36b4d168?page=148"> 148 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 149" href="http://viewer.zmags.com/publication/36b4d168?page=149"> Section 11: Strategic Report, Directors’ Report a</a> <a title="FSCS Annual Report 2014/15 page 150" href="http://viewer.zmags.com/publication/36b4d168?page=150"> 150 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 151" href="http://viewer.zmags.com/publication/36b4d168?page=151"> Section 11: Strategic Report, Directors’ Report a</a> <a title="FSCS Annual Report 2014/15 page 152" href="http://viewer.zmags.com/publication/36b4d168?page=152"> 152 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 153" href="http://viewer.zmags.com/publication/36b4d168?page=153"> Section 11: Strategic Report, Directors’ Report a</a> <a title="FSCS Annual Report 2014/15 page 154" href="http://viewer.zmags.com/publication/36b4d168?page=154"> 154 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 155" href="http://viewer.zmags.com/publication/36b4d168?page=155"> Section 11: Strategic Report, Directors’ Report a</a> <a title="FSCS Annual Report 2014/15 page 156" href="http://viewer.zmags.com/publication/36b4d168?page=156"> 156 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 157" href="http://viewer.zmags.com/publication/36b4d168?page=157"> Section 11: Strategic Report, Directors’ Report a</a> <a title="FSCS Annual Report 2014/15 page 158" href="http://viewer.zmags.com/publication/36b4d168?page=158"> 158 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 159" href="http://viewer.zmags.com/publication/36b4d168?page=159"> Section 11: Strategic Report, Directors’ Report a</a> <a title="FSCS Annual Report 2014/15 page 160" href="http://viewer.zmags.com/publication/36b4d168?page=160"> 160 FSCS Annual Report and Accounts 2014/15 </a> <a title="FSCS Annual Report 2014/15 page 161" href="http://viewer.zmags.com/publication/36b4d168?page=161"> Section 11: Strategic Report, Directors’ Report a</a> <a title="FSCS Annual Report 2014/15 page 162" href="http://viewer.zmags.com/publication/36b4d168?page=162"> 162 FSCS Annual Report and Accounts 2014/15 F</a> <a title="FSCS Annual Report 2014/15 page 163" href="http://viewer.zmags.com/publication/36b4d168?page=163"> Section 11: Strategic Report, Directors’ Report a</a> <a title="FSCS Annual Report 2014/15 page 164" 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