The Financial Services Compensation Scheme Increases its Levy
The Financial Services Compensation Scheme (FSCS) has announced that it will increase its levy to £415m for the 2024/25 financial year, according to its latest Outlook publication. The levy for the current financial year will remain at £270m with no additional demands. The FSCS expects an increase in claims for investment and pension advice, as well as failures of self-invested personal pension (SIPP) operators and insurance firms.