FCA consults on FSCS management levy
FCA proposes management costs of £74.4m for Financial Services Compensation Scheme.
The Financial Conduct Authority has proposed a management expenses levy limit (MELL) for the Financial Services Compensation Scheme (FSCS) of £74.4m for 2015/16.
The regulator is consulting on proposals which predict management expenses of £69.1m and a contingency reserve of £5.3m "to levy additional funds, most likely at relatively short notice, without formal consultation by the FCA and PRA to meet contingencies that were not foreseen when the annual levy was raised."
The £69.1m is a reduction
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