Public Invited to Shape Future of Depositor Compensation Scheme
The government have announced a public consultation, to help shape the future of the Depositors Compensation Scheme.
The DCS aims to provide protection for depositors with funds held in Isle of Man banks, the KSF collapse brought the issue to the forefront over the past year.
Treasury Minister Allan Bell called for the review in July’s sitting of Tynwald, he has said however that the maximum cover of £50,000 is likely to remain unchanged.
People have until the 23rd October to respond.