FSCS chairman awarded CBE
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Financial Services Compensation Scheme chairman David Hall was awarded a CBE for services to the financial services industry in this year’s New Year Honours list.
Hall was appointed chair of the FSCS in March 2006 for a three year term and reappointed in 2009 for a further term.
Other financial services honours include former Monetary Policy Committee member Andrew Sentance, who was also awarded a CBE for services to the economy.
Newton chief executive Helen Morrissey was awarded a CBE for services to UK business.
Paul Ruddock, a Conservative Party donor and chief executive of hedge fund Lansdowne Partners, was knighted for services to the arts.
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Readers' comments (10)
Nick | 3 Jan 2012 8:35 am
another reward for failure in the FS industry!
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Anonymous | 3 Jan 2012 9:27 am
Come back Charles Dickens and write about the machinations of the werry fine (ironic term) "Gentlemen" what runs financials in this 'ere Country (no reference to Shakespearean lingua here, but it might as well be). The financials is run by Micawbers and Murdstones dear hearts.
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Old Dog | 3 Jan 2012 10:43 am
Someone has to nominate the person in the first place.
Who would nominate someone who is chairman of a failed entity like the FSCS?
Answer; probably someone who can pull strings from another failed entity; the FSA.
You couldn't make it up could you.
Has all the smell of a Zimbabwean cabinet gong-awarding session.
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Exasperated Me | 3 Jan 2012 11:13 am
I one was the Queen one would like to know what one was really handing out the gongs for.
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James James | 3 Jan 2012 11:17 am
At least it wasn't the chairman of the FOS. I have a client who has been trying to make a claim against a finance company for the past 3 years and the FOS wrote to me again last week letting me know their pile of complaints had increased and it could be another year before its looked at. This can't be right in this day and age can it? Incidentally; my reward for 30 years (yes 30, not 3) service to financial services is additional cost, level 4 exams at my time and expense and providers who treat us with utter distain. I'm really please the guy has been recognised for all he's done to sort this lot out. I’m assuming he got well paid as well so double well done to him.
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andy newman | 3 Jan 2012 11:41 am
Come on be fair, don't get mixed up between the machinations of the FSCS levy scheme as (dis) organised by the FSA and the FSCS scheme itself which I have found to be pretty well run from the customer perspective it is primarily there to serve.
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James James | 3 Jan 2012 12:35 pm
andy newman | 3 Jan 2012 11:41 am
Read my post above yours. Well run? Not by any definition I use. I have been passed from pillar to post, have written to them on numerous occasion and don't even get a reply. I have tried to escalate the case by asking for someone in seniority to look at it and get nowhere. They are not well run by any stretch of the imagination. I have now asked the clients if they are happy for me to send the file to their MP to see if that might get things moving. However, as you and I both know they seem to answer to nobody so I doubt I will even get success by trying this. Well run....no, I don't think so, and to reward the chairman after 3 years’ service….I'm sure the fact he's a tory donor didn't have anything to do with this decision but there are those that won't agree. Did it, or didn't it? You decide.
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Terence P.O'Halloran | 3 Jan 2012 2:19 pm
The Milky Bars are on me. Well , no , actually they are not, because you are all paying through the back door.
Good service? Not in my experience. Novices run by 'contortionists'.
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Julian Stevens | 3 Jan 2012 5:07 pm
What is it that he's supposed actually to have done, other than be at the right events with the right people at the right time?
A provider goes down, the FSA directs the FSA to classify it as an intermediary, and the FSCS forces the internmediary sector to cough up however much may be necessary to ensure that investors are fully compensated. It hardly sounds like rocket science, does it?
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Richard Rouse | 10 Jan 2012 9:10 am
James James at 3 Jan 12.35pm
You do know the difference between FSCS (which this story is about) and FOS, don't you?
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