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.


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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.