Brokers’ FSCS levy comes in at £8m

Cash in hand

The Financial Services Compensation Scheme (FSCS) has confirmed that brokers will pay a levy of £8m for the year 2016/17.

The figure is a marked drop on the £19m predicted in the indicative levy set out this January when the FSCS published its budget plans and opened a consultation.

However, it reverses the position of 2015/16 when the sector paid zero towards the FSCS.

Overall the watchdog confirmed that its levy will be £337m for the financial year.

This represents 5.6% increase on the £319m

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