New fee structure for parts of Financial Services Compensation Scheme

Compensation for depositors in failed retail banks through pre-funding guarantees under the Financial Services Compensation Scheme (FSCS) may have to wait for consultation early next year but the FSA has meanwhile published changes to the tariff measures for some of the levies of sub-classes of the Scheme. The changes – set out in the table - will mainly be implemented for the 2010/11 levy period (1 April 2010 to 31 March 2011), which will call for additional data collection by some firms next year on eligible reserves and technical liabilities (life & pensions and general insurance) and annual eligible income (life and pensions intermediation, investment intermediation and investment fund management).