The Financial Services Compensation Scheme (FSCS) overall levy for the next financial year should be £478m, it announced this week, a significantly lower figure than the previous 12 months.
In its latest outlook publication, released yesterday (24 November), the FSCS confirmed its total annual levy for 2022/23 would remain at £625m, adding it would drop to £478m for the next financial year. "No additional levy is expected for the remainder of the current financial year," it also confirmed. FSCS chief executive Caroline Rainbird said the body was looking to provide certainty. "With the increasing cost of living at the forefront of many people's minds, we appreciate levy payers are looking for as much certainty as possible". She added: "With our latest forecasts, we aim to...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
