FSCS cuts fees for all but IFAs

The total initial FSCS levy has been set at £160.7m, down from £202.9m forecast in CP05/02. However, despite cuts to previous estimates of up to £27m in the case of fund managers and stockbrokers, IFAs have been lumped with a £7.4m increase on the previous figure. Fee block Movement (£) Who does this affect A3 -£17m General insurance brokers A7 -£26.8m Fund managers, stockbrokers A12 -£3.7m Stockbrokers, some IFAs A13 +£7.4m Mainly IFAs source: FSA The FSA has yet to publish its own fee schedule for the 2005-6 year, which from July onwards will consist ...