FSCS ups final levy for 2019/20 by £16m to £532m

clock • 3 min read

The FSCS is to levy firms £532m this year - £16m more than it forecast in its 2019/20 Plan and Budget in January - although the levy required for life, pensions and investment advice has been reduced by £29m to £211m. Announcing its final levy for 2019/20, the Financial Services Compensation Scheme (FSCS) said the main reasons for the increase between the figure forecast in January and the final one were an uplift in the number of claims expected against SIPP operators and an upwards revision to "the expected continuing costs in some historic insurances failures". In a statement, th...

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