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FEES 6.4A Management expenses in respect of relevant schemes

Obligation on participant firm to pay

FEES 6.4A.1RRP

1A participant firm (but not a recognised investment exchange)2 must pay to the FSCS a share of each MERS levy.

Restriction on management expenses in respect of relevant schemes

FEES 6.4A.2RRP

The FSCS can impose a MERS levy only if the FSCS has tried its best and has failed to obtain reimbursement of those expenses from the manager of the relevant compensation scheme.

Management expenses in respect of relevant schemes levy

FEES 6.4A.3RRP

The FSCS must calculate a participant firm's share of a MERS levy on a reasonable basis.