2009/10 levy details

2009/10 initial levy announced in April 2009 - £156m

Under the funding arrangements set up by the Financial Services Authority (FSA), five new funding classes were established to replace the previous 12 contribution groups. They are:

  • deposits
  • general insurance
  • life and pensions
  • investments
  • home finance

With the exception of deposits, these five broad classes are divided into sub-classes based on provider/intermediation activities. The levy for each of these sub-classes for 2009/10 is in the table below.

2009/10 Initial Levy by Sub-Class
Sub-Class £m
A1 Deposit 22.5
B1 General insurance - provision 69.0
B2 General insurance - intermediation 8.5
C1 Life and pensions - provision 2.0
C2 Life and pensions - intermediation 19.0
D1 Investments - fund management 4.0
D2 Investments - intermediation* 30.0
E1 Home finance - provision 0.0
E2 Home finance - intermediation 1.0
Total funding requirement 156.0

* FSCS will only levy firms in the class for £30m now. If necessary a further levy currently estimated at £28m will be levied later in 2009 (all separate from the interim 2008/09 levy of £38m)


The FCA

The Financial Conduct Authority website includes a searchable database of all firms authorised and regulated by the FCA and the Prudential Regulation Authority (PRA).

The FOS

The Financial Ombudsman Service is the official independent expert in settling complaints between consumers and financial businesses

Jargon Buster

  • Deposits

    money placed in a bank or similar institution to earn interest or for safe-keeping.
  • FSA

    Financial Services Authority, was previously the UK's regulator for the finance industry. It was replaced by the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) on 1 April 2013.