FSCS annual levy could halve to £240m for 2011/12

The FSCS expects its total overall levy to fall from £474m in 2010/11, according to projections in its Plan and Budget for the coming financial year, published today. Investment intermediaries are expected to contribute 16% of the 2011/12 levy. Firms in the FSCS's investment intermediation sub-class already have to fork out for an interim levy of £93m to cover the cost of claims against investment firms including Keydata. Including firms in the investment fund management sub-class, the total interim levy for 2010/11 will likely hit £326m. Elsewhere in its today's annual Plan and...