Call to base FSCS levies on risk

Blackmore, Nicole
June 2009
Money Marketing;6/4/2009, p2
The article reports on the request of the House of Lords economic affairs committee to base Financial Services Compensation Scheme Ltd. (FSCS) levies on firms' levels of risk in Great Britain. The committee in its Banking Supervision and Regulation report said that calculating levies on the basis of the size of an institution rather than its risk profile is problematic. Moreover, the committee is calling for the government to move towards pre-funding of the FSCS.


Related Articles

  • FSCS levy on the up.  // Money Marketing;7/11/2013, p31 

    The author offers insights on the details published by the British Financial Services Compensation Scheme regarding its plans to set levy rates for three years in advance.

  • Compensation scheme levy falls by £10m. McMillan, Paul // Money Marketing;4/12/2007, p13 

    The article reports on the £10 million decrease of the Financial Services Compensation Scheme's (FSCS) initial levy for 2007/2008 in Great Britain. The levies for mortgage brokers, brokers holding client money, and the pensions review group will also be reduced, despite the unchanged levy for...

  • FSCS hits lenders with £406m levy. Holt, Natalie // Mortgage Strategy;8/3/2009, p10 

    The article reports on the 406 million pounds to be paid by banks, building societies and credit unions as contribution to the cost of five bank defaults in 2008 in Great Britain. It states that a levy on deposit-taking firms for the interest on loans use to fund payments is issued by the...

  • FSCS funding model would leave firms 'out-of-pocket', say advisers. Holt, Natalie // Money Marketing;7/11/2013, p16 

    The article focuses on the reaction of financial advisers to Financial Services Compensation Scheme's (FSCS) proposal to calculate levies over three years. Advisers claim that the proposal is being distorted by Keydata and fails to address adviser costs. Beginning in April 2014, levies will be...

  • Endowment complaints to keep FSCS levies high. McMillan, Paul // Money Marketing;2/8/2007, p12 

    The article reveals that the continuing high levels of endowment complaints will keep Financial Services Compensation Scheme Ltd. (FSCS) levies high for financial advisers in Great Britain in 2008. According to FSCS, the overall industry levy for 2008 will increase by 29 percent from £74.8...

  • No new Keydata levy but firms may see bills rise. Holt, Natalie // Money Marketing;7/21/2011, p22 

    The article reports on the claims of the Financial Services Compensation (FSC) Scheme Ltd. that they will unlikely raise an additional industry levy to cover the cost of Keydata claims in Great Britain.

  • FSCS confirms new interim levy for investment advisers as claims soar. Norman, Tessa // Money Marketing (Online Edition);10/29/2013, p9 

    The article reports on the plan of the Financial Services Compensation Scheme Ltd. (FSCS) to raise an interim levy on investment intermediaries before June 2014 in Great Britain. The plan was unveiled following the default of life settlement firm Catalyst Investment Group Ltd. Issues addressed...

  • Gartmore hit with £7bn fund outflows. Salih, Chris // Money Marketing;3/3/2011, p24 

    The article reports on the 7.2 billion pounds of net new business outflows of Garmore Group Ltd. in 2010 as the company started negotiating over a Henderson Group PLC takeover in April 2011 and revealed a 2.1 million pounds Financial Services Compensation Scheme Ltd. (FSCS) interim levy bill.

  • FSCS seeks new lead Keydata defendants. Norman, Tessa // Money Marketing;1/23/2014, p3 

    The article reports that Financial Services Compensation Scheme (FSCS) in Great Britain is seeking lead case defendants in its legal challenge to recoup 75 million British pounds out of the 400 million British pounds paid out in the compensation of investment services providing company Keydata.


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics