Financial Services and Pension Ombudsman Levy

Tue Oct 13 2020

The office of the Financial Services and Pension Ombudsman recently issued levy notices to intermediaries.    The FSPO has advised that while previously, they would have processed levies for intermediaries only by direct debit, this facility created an additional administrative requirement within the small FSPO finance team. As direct debits were processed for only a proportion of intermediaries, this created two separate processes whereby some paid by EFT and some by direct debit.

Therefore, in the context of their available resources, they have issued invoices to all entities this year with instructions for EFT payments.  If your firm previously registered to pay by direct debit, they will not be processed for the 2020 levies – you must pay by EFT.

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