An FSCS Action Group petition, which is campaigning online for a fairer Financial Services Compensation Scheme, has already seen more than 1,000 signatures following its launch this morning.
This means the campaign has reached its target of 1,000 emails before the end of the day well before its deadline.
The campaign, spearheaded by Martin Bamford, managing director of Surrey-based Informed Choice, was launched today. Today's date was chosen at it is the day on which most interim levys are paid, according to Bamford.
The online petition asks advisers to put their name, email address and postcode against a letter calling for a fairer system of levying FSCS fees, before pressing 'sign now' which forwards the letter to financial secretary to the treasury Mark Hoban.
The campaign was launched because investment advisers who have been hit with a £60m interim FSCS levy for 2011/13, to cover the cost of firm collapses including MF Global Keydata, CF Arch cru and Wills and Co, consider this to be unfair.
The campaign is calling for better categorisation of firms within the FSCS funding model because currently the way investment intermediation and investment fund managers are defined means the collapse of providers and stockbrokers is paid for by intermediaries and fund managers.
It is also calling for greater awareness of the funding of the compensation scheme; clients pay for the FSCS, and the campaign statement argues that clients should be made aware of this.
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