FSCS recovers £300m for levy payers
The money has been recovered from failed financial services firms and the watchdog claimed that these sums helped reduce FSCS fees.
The Financial Services Compensation Scheme (FSCS) has recovered just under £300m over the past five years from failed financial services firms.
According to the regulatory body these sums reduced FSCS levies on the industry.
However, in 2019 brokers actually saw FSCS rise with a predicted increase of £16m, prompting a warning from the British Insurance Brokers Association.
The FSCS stated that it strives to reduce the costs of compensation for its levy payers, and seeks to recover amounts
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