FCA Handbook - COMP 4A.2 Look throughs

You are viewing COMP 4A.2 Look throughs as of . COMP 4A.2 Look throughs was last updated on 17/03/2026.

Rules

Guidance

Related resources

COMP 4A.2 Look throughs

If a claimant has a claim as a person in column A of the table in COMP 4A.2.3R, the FSCS must treat the corresponding person in column B of that table as having the claim not the person in column A.

For the purposes of this section, note the rules and guidance for other special cases in COMP 12A.3 (Collective investment schemes).

This table belongs to COMP 4A.2.1R.

	A	B
(1)	Trustee of an occupational pension scheme or trustee or operator of, or the person carrying on the regulated activity of winding up, a stakeholder pension scheme (which is not an occupational pension scheme) or personal pension scheme	Member or member scheme (or, where relevant, the beneficiary of any member) insofar as the members’ benefits are money-purchase benefits
(2)	Bare trustee	Beneficiary
(3)	Nominee company	Beneficiary
(4)	Personal representative	Estate the personal representative is administering
(5)	Agent	Principal
(6)	Firm with a claim under COMP 3.2.4R	Customer
(7)	Friendly society	Member

The FSCS must:

(1) only pay compensation to or on behalf of a person listed in column B of the table in COMP 4A.2.3R if that person is an eligible claimant; and
(2) not pay compensation separately to a person listed in column A of the table in COMP 4A.2.3R unless that person has a claim as an eligible claimant in a capacity other than that listed in column A of that table.

Where this chapter applies, the FSCS must take reasonable steps to ensure that any amount paid to a person in column A of the table in COMP 4A.2.3R is, in each case:

(1) for the benefit of the corresponding persons in column B of the table in COMP 4A.2.3R if that person is an eligible claimant; and
(2) no more than the amount of the loss suffered by the corresponding persons in column B of the table in COMP 4A.2.3R.