January 15, 2020

Prudential Regulation Authority publishes Consultation Paper 1/20

Prudential Regulation Authority publishes Consultation Paper 1/20

Financial Services Compensation Scheme – Management Expenses Levy Limit 2020/21

15 January 2020
In this Consultation Paper (CP), the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) set out proposals for the Management Expenses Levy Limit (MELL) for the Financial Services Compensation Scheme (FSCS) for 2020/21. This CP is supported by the publication of the FSCS’s Plan and Budget for 2020/21.

This CP is relevant to all PRA- and FCA-authorised firms, but contains no material of direct relevance to retail financial services consumers or consumer groups upon which they might need to act. As costs may be passed on to consumers in the form of higher prices, consumers may indirectly contribute to part of the FSCS levies. However, an efficient and adequately funded compensation scheme is beneficial to all consumers.
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Also published today:

Insurance data release: information and format: A call for feedback

The Bank of England and Prudential Regulation Authority (PRA) are preparing to publish regular, aggregated data relating to the UK Insurance market on a quarterly basis. The purpose of this paper is to inform potential users of such data and the proposed content and presentation.
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