Regulatory Alerts2019-01-29
Financial Services Compensation Scheme Management Expenses Levy Limit 2019/20
The Financial Conduct Authority and Prudential Regulation Authority propose a Management Expenses Levy Limit of £79.6 million for the Financial Services Compensation Scheme for the 2019/20 financial year. This limit comprises a £74.6 million management expenses budget and a £5.0 million unlevied contingency reserve, representing a 2.4% increase from the previous year to cover rising claim volumes and operational costs. The consultation seeks industry feedback on these proposals by 28 February 2019 to ensure the scheme remains adequately funded to compensate consumers when financial firms fail.
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