Life and pension advisers face £90m levy demand
SIPP claims predicted to rise
A further review of the funding model for the Financial Services Compensation Scheme (FSCS) - scheduled to begin later this year - will focus on making the system fairer for IFAs, the Financial Conduct Authority (FCA) told MPs today.
Advisers should 'stop carping' about FSCS levy bills
Adviser network Personal Touch Financial Services has written to members informing them of a planned fee increase after suffering what it called "indiscriminate" increases to its regulatory costs.
Should advisers include 'cost of regulation' in fees breakdown?
The Money Advice Service (MAS) made a loss of £786,000 last year and has confirmed it will not return any capital to the industry.
The average compensation payout for a SIPP-related claim against failed IFAs rose almost 50% in 2014-15 against the previous 12 months, prompting a £20m interim levy on life and pensions advisers.
Financial advisers are renewing calls for the Financial Conduct Authority (FCA) to make better use of the 'exceptionally severe' fines it levies on the industry, including by using them to cut regulatory costs.