UK PRA policy statement on FSCS MELL 2025/2026

The UK Prudential Regulation Authority (PRA) has published a policy statement providing feedback to its consultation paper CP1/25 on the Financial Services Compensation Scheme (FSCS) Management Expenses Levy Limit for the year 2025/2026. The policy statement was published alongside the PRA Rulebook Instrument making the necessary changes to the PRA Rulebook, setting the amount which the FSCS may recover from the sums levied as management expenses for the 2025/2026 period. The policy statement confirms that since the publication of the consultation paper, the FSCS has confirmed that the projected underspend (which was approximately GBP1.7 million for 2024/25) is now GBP2.8 million, which, if it materialises, will be used to offset the levy for relevant classes in 2025/26. The instrument came into force on 1 April.

Return to main website.