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FSCS warns of supplementary levies for 2019/20

The Financial Services Compensation Scheme (FSCS) is funded by levies on regulated firms and normally levies once in each financial year, for the costs expected for the 12 month period of that particular year.

For the purposes of funding compensation costs, the FSCS levy is split into six classes*. If the levy raised on a class is, or is likely to be, insufficient to meet the compensation costs due in the year, the FSCS has the power to raise supplementary levies to meet these unforeseen costs.

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