The FSCS’s operating costs and compensation payments are funded by levies on financial services firms. Increasing compensation costs seen in recent years have prompted questions about the fairness of FSCS levies and how the FSCS should be funded.
Our discussion paper is the start of a discussion with stakeholders on the compensation framework and the purpose, scope and funding of the FSCS. We are interested in identifying opportunities to improve the aspects of the framework which the FCA is responsible for, to ensure the framework remains appropriate and proportionate in order to benefit all market participants.
Who this applies to
This discussion paper will interest:
- groups representing consumers’ interests
- regulated firms, including FSCS levy payers
- trade bodies for regulated firms
Respond to this discussion paper
We want to know what you think about the issues set out in this discussion paper by 4 March 2022.
Send responses via this online form or by email to: [email protected]
We will consider your feedback and publish a Feedback Statement during 2022 which will outline any further steps we intend to take. We also plan to engage with stakeholders directly during the first quarter of 2022, once we have had the opportunity to hear stakeholders’ initial views.