Depositor Compensation Scheme consultation closes today

Proposals aim to maintain confidence and ensure faster compensation payments

It's your last chance to respond to a consultation on proposed changes to a scheme that protects bank customers.

The Isle of Man Financial Services Authority has been seeking feedback following a review of the Depositors' Compensation Scheme.

It's hoped the changes would maintain depositor confidence, contribute to the Island's financial stability and ensure compensation is paid in a more timely manner to those with deposits in a bank that's failed.

Submissions to the public consultation close today and can be made through the government's website.