Regulatory AlertsCP23/3: Financial Services Compensation Scheme – Management Expenses Levy Limit 2023/24
The Financial Conduct Authority and the Prudential Regulation Authority propose a Management Expenses Levy Limit of £109.8 million for the Financial Services Compensation Scheme for the 2023/24 financial year. This limit comprises a £99.8 million management expenses budget and a £10 million unlevied reserve, representing a £0.7 million decrease from the previous year's total. The proposal aims to ensure sufficient funding for the scheme's operational costs while maintaining a contingency reserve to handle unexpected claim volumes.
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