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Treasury written question – answered on 11th February 2020.

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Photo of Nickie Aiken Nickie Aiken Conservative, Cities of London and Westminster

What steps he is taking to ensure that the level of the Financial Services Compensation Scheme levy is (a) equitable and (b) proportionate.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

The FSCS is an independent non-governmental body. It operates within the rules set by the FCA and the PRA, who are also independent from government.

The FSCS levy is set annually, within the overall levy limits set by the FCA and PRA. It is for the FCA and PRA to consider the impact of the levy on the firms they regulate. The Government has no role in setting the levy.

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