The PRA has published Policy Statement 6/17: Financial Services Compensation Scheme – Management Expenses Levy Limit 2017/18 (PS6/17).
In PS6/17 the PRA sets out final rules for the Financial Services Compensation Scheme (FSCS) Management Expenses Levy Limit (MELL) for 2017/18.
The PRA reports that MELL for 2017/18 will be £74.5 million. This includes:
- FSCS management expenses of £69.2 million to cover the FSCS’s ongoing operating costs including staff, facilities, claims handling, and legal and other professional services; and
- an unlevied contingency reserve of £5.3 million which allows the FSCS to levy additional funds at short notice in the event of a significant unexpected event, without the need for further consultation by the PRA and the FCA.
View FSCS – Management Expenses Levy Limit 2017/18 – PS6/17, 31 March 2017