FSA HUBIES 105 BUFFALO NY

The FSA Hubie charge is a tax on financial services companies operating in the UK. It is levied at a rate of 0.5% on the value of their assets, and is used to fund the Financial Services Compensation Scheme (FSCS), which provides compensation to customers of failed financial services firms. The charge is typically passed on to customers through higher fees or charges, but some firms may choose to absorb the cost themselves. The FSA has estimated that the average customer of a financial services firm will pay an extra $30-$40 per year in hubie charges.