Regulatory AlertsFinancial Services Compensation Scheme – Management Expenses Levy Limit 2021/22
The Financial Conduct Authority and the Prudential Regulation Authority propose a Management Expenses Levy Limit of £105.5 million for the Financial Services Compensation Scheme for the 2021/22 financial year. This limit comprises a £90.5 million management expenses budget and a £15 million unlevied reserve, the latter increased to address uncertainty regarding claim volumes during the pandemic. The consultation seeks feedback from authorized firms on these proposals before final rules are implemented by April 2021.
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