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£1bn client compensation bill shows ‘regulation is failing’

News Team, 22/01/2021

Caroline Rainbird

The Financial Services Compensation Scheme (FSCS) released its indicative levy for 2021/22 today, saying it forecast £1.04 billion would be needed to cover the cost of failing firms.

This is a 43 percent increase on the £700 million billed to firms in 2020/21 – including the supplementary levy of £78 million.

In a video statement announcing the 2021/22 levy, FSCS chief executive Caroline Rainbird said...


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