2010/11 levy details

2010/11 initial levy announced in March 2010 - £148m

Under the funding arrangements set up by the Financial Services Authority (FSA), five 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 2010/11 is in the table below.

2010/11 Initial Levy by Sub-Class
Sub-Class £m
SA01 Deposit 4.0
SB01 General insurance - provision 41.5
SB02 General insurance - intermediation 61.4
SC01 Life and pensions - provision 2.0
SC02 Life and pensions - intermediation 11.5
SD01 Investments - fund management 3.0
SD02 Investments - intermediation* 24.0
SE01 Home finance - provision 0.0
SE02 Home finance - intermediation 0.6
Total funding requirement 148.0

* The FSCS also raised an interim levy on firms in this class for £80m in 2009/10.


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.