FSCS firm levy for 2019/20 announced

Industry News | 30/04/19

The Financial Services Compensation Scheme (FSCS) has announced that in the year 2019/20, it will levy firms £532m, £16m more than it forecasted in January. The main reasons for the increase from the forecast figure are an upwards revision to expected costs in some historic insurances failures, and an increase in the number of expected claims against Self-Invested Personal Pension (SIPP) operators.