How are your FSCS levies calculated?

FSCS levies are one of the biggest bills advisers have to pay. But how are they calculated? Watch our video to find out

Advisers slam levy increases as FSCS bills hit desks

Solving the FSCS’ long list of problems

FSCS chief executive Mark Neale’s blog

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FCA agrees FSCS funding reform

The FCA has provisionally agreed a set of reforms to the Financial Services Compensation Scheme. The regulator released a set of proposals for changing how the lifeboat fund is paid for late last year. It put a number of specific ideas out to the market from its FSCS review, including collecting data from advisers on […]

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FSCS opens up to more Harlequin claims against advisers

Advisers will be in the firing line as the Financial Services Compensation Scheme begins considering claims against IFAs who told clients to invest directly in property scheme Harlequin. Harlequin marketed and built overseas luxury property and has come under investigation by the Serious Fraud Office after some developments never materialised and high commissions came under […]

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Hargreaves Lansdown FSCS bill falls by a quarter

Hargreaves Lansdown’s contribution towards the Financial Services Compensation Scheme fell by nearly a quarter this year, the broker’s annual results released today show. For the year ended 30 June, Hargreaves paid £4.2m in FSCS levies, down from £5.5m the previous year. FSCS levies are calculated on the amount of business a firm does in each […]

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FSCS copycat scammers strike again

The Financial Services Compensation Scheme is the latest agency to warn that scammers are trying to use its name to trick consumers into handing over money. In a note published on its website, the lifeboat fund warns people to be wary of “fake emails from fraudsters claiming to represent FSCS.” The FSCS writes: “Do not […]

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Comments

There are 4 comments at the moment, we would love to hear your opinion too.

  1. Nicholas Pleasure 16th October 2017 at 10:02 am

    I knew all that, but how are they actually calculated?

  2. Whittington Dick 16th October 2017 at 4:40 pm

    Exactly, my friend, exactly! – Think of a number and double it seems about it based on this nonsense.

  3. What matters is not how they’re calculated, but why the FCA (and/or specific individuals within it) isn’t being brought to book for having failed to do its/their job properly and nip in the bud the practice of small number of firms selling toxic junk without relevant PII cover, shutting shop when the complaints start rolling in, dumping their liabilities onto the FSCS and phoenixing into a new regulated entity.

  4. SIPP & Non retail roducts should have separate levy sectipn

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