The Financial Services Authority (FSA) has set out proposed changes to the funding of the Financial Services Compensation Scheme (FSCS).
The regulator said the changes could reduce the likelihood of interim levies and offer firms more certainty in the level of fees they pay. However, the proposed threshold for investment intermediaries will be raised to £150m, up from the current £100m, if the proposals are agreed. The fund manager threshold would be reduced to £200m from £270m. The deposit class threshold could be lowered from £1.84bn to £1.5bn. The proposals follow a number of concerns raised by stakeholders relating to the way the FSCS is funded, including the class structure; how costs are allocayed; and how cro...
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