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FCA/PRA consult on FSCS 2026/27 MELL, with FSCS budget update; UK, EU and international financial services developments—13 January 2026

Published on: 13 January 2026

Published by a LexisNexis Financial Services expert
Legal News
Table of contents
  • Financial services developments
  • FCA and PRA consult on FSCS MELL for 2026/27
  • Other developments
Article summary

Financial services developments FCA and PRA consult on FSCS MELL for 2026/27

The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) are seeking views on proposals concerning the Management Expenses Levy Limit (MELL) for the Financial Services Compensation Scheme (FSCS) for 2026/27. The MELL meets the FSCS’s costs of running the UK’s statutory compensation scheme. Feedback is requested by 10 February 2026. Their joint consultation paper (PRA CP1/26, FCA CP26/2) is accompanied by the FSCS’s Budget Update for 2026/27. The consultation outlines a proposed MELL of £113m for 2026/27, comprising a £108m management expenses budget and a £5m unlevied reserve...

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