Brokers could face 63% hike in FSCS levy under new proposals

cash-tap-money

Regulator sets out three options for changing the FSCS funding classes.

Brokers could see a more than 50% rise in their levy contribution to the Financial Services Compensation Scheme (FSCS) if the Financial Conduct Authority (FCA) pushes ahead with one of the three options for funding classes change it has set out.

The regulator noted that some stakeholders are keen for further sub-dividing the current funding classes to try to increase the similarities between firms that are grouped together.

The FCA accepted these stakeholders were likely to have concerns about

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