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The Independent UK

Business

Vicky Shaw

UNCOVERED: Financial services compensation scheme slashes levy it expects firms will pay | History Defined

PA Archive

A lifeboat scheme which compensates customers when financial firms go bust has slashed the total levy amount that it expects will be paid by the industry.

The Financial Services Compensation Scheme (FSCS) is able to pay compensation to customers because it is funded by the financial services industry, via a levy.

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