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FSCS hikes broker levy up by £11m for 20/21

The Financial Services Compensation Scheme (FSCS) has announced a levy increase of £11m for brokers in its Plan and Budget for 2020/21.

According to the FSCS’s forecast, the general insurance distribution class is expected to pay a levy of £23m for the financial year, up from £12m in 2019/20.

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10th Jan 2022 FCA have issued policy Statement PS22/1 – FCA authorisation application fees – new structure