FSCS funding review delayed due to FSA shake-up

The regulator began looking into the FSCS's funding at the end of last year, amid industry anger at increased levies after the large scale defaults in 2008 and 2009. The composition of the levy classes, how much each class should pay annually, and whether the levy allocation should reflect the degree of risk posed by individual firms, are all going to be reviewed. In a letter to the British Insurance Brokers Association (BIBA), the FSA said changes to the regulatory landscape in the UK and Europe mean it would "not be appropriate" to look at the funding arrangements now. No new dat...