FSCS to reveal threshold-busting interim levy this month

It is likely to breach the £100m annual levy threshold for the investment intermediation sub-class which houses the failed companies that sparked the increase, a spokesperson says. The shortfall for the multi-million pound FSCS levy would then be sought from the fund management class. Firms are likely to be required to pay the 2010/11 interim levy soon after it is announced, which will be in the next three weeks. "We would need to raise it as soon as possible," says the spokesperson. The intermediation sub-class has already forked out £80m for last year's interim levy, including...