FSCS reduces broker levy for 2021/22

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The Financial Services Compensation Scheme (FSCS) has updated its levy forecast for 2021/22, with the broker levy set to be reduced to £12.9m.

The total broker contribution has reduced from £146.8m to £73.8m. This includes the levy for the broking funding class of £12.9m, compared to the forecast of £14.4m, as well as a contribution to the retail pool of £60.9m, which has been reduced down from £132.4m.

The FSCS explained that the total levy, which has been revised to £833m, is expected to

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