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<p>The Financial Services Compensation Scheme (FSCS) is an independent non-governmental
body. The Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA)
determine the maximum level at which the FSCS levy is set, and how it should be apportioned
across industry. The FSCS sets annual levies within these limits.</p><p> </p><p>In
March 2016 the Government and FCA published the Financial Advice Market Review which
observed that the unpredictable nature of the FSCS levy can make it hard for independent
financial advisors to plan effectively. It recommended a number of options regarding
FSCS funding, which could make the levy more manageable for independent financial
advisors. The FCA is currently reviewing FSCS funding and will publish a consultation
later this year.</p>
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