FSCS cuts £1bn levy demand to £833m

Still £133m higher than last year

Jenna Brown
clock • 3 min read
Caroline Rainbird: "While it may be welcome news to see a lower forecast than announced in January, we do not call this a successful outcome or 'good news'."
Image:

Caroline Rainbird: "While it may be welcome news to see a lower forecast than announced in January, we do not call this a successful outcome or 'good news'."

The Financial Services Compensation Scheme (FSCS) has reduced its levy demand for 2021/22 by just over £200m to £833m.

It had originally been forecast at £1.04bn for the financial year in the organisation's plan and budget document released in January, a figure described by PIMFA as a "national scandal". The FSC...

To continue reading this article...

Join Professional Adviser

 

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Nicola Parish: “Our new scams combat plan sets out to make savers aware of the risk of scams"

Cost of living exposing savers to more scams, TPR warns

TPR scams strategy

Hope William-Smith
clock 03 August 2022 • 2 min read
David Ogden: The FCA's Consumer Duty rules and the importance of value

David Ogden: FCA's Consumer Duty rules and the importance of value

Good value 'particularly important'

David Ogden
clock 03 August 2022 • 5 min read
FCA tightens AR rules to cut mis-selling risk

FCA tightens AR rules to cut mis-selling risk

'Regulatory lacuna'

Jenna Brown
clock 03 August 2022 • 3 min read