Brokers face £19m FSCS levy hit for 2016/17
Fee projected to increase from zero in 2015/16 with overall funding levy rising to £363m.
The Financial Services Compensation Scheme (FSCS) has projected a £44m - 14% - rise in its overall funding levy for 2016/17 to £363m with brokers set to be charged £19m.
Last year brokers had a zero charge from the organisation with its final levy total coming in at £319m.
In the financial year 2014/15 brokers paid a £38m levy.
The new figures were revealed in the FSCS's Plan and Budget: 2016/17.
Management expense
They come a day after the Financial Conduct Authority (FCA) proposed a 44%
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