FSCS updates on levy and forecast

FSCS has published its latest “Outlook” newsletter.

• FSCS does not expect to request any additional levies from firms during the current financial year and will carry forward any surpluses in any class to next year. It notes there have been fewer decisions than expected in the Life Distribution and Investment Intermediation class;
• the current forecast for next year is £415m (the current year forecast is £435m), and, while FCSC expects the levy to increase for the next year, it says costs are relatively stable because of lower surpluses carried over.