FSCS warns IFAs could see further levy rise

According to the FSCS, the number of endowment claims filed in six months has already risen above the total number expected for the whole year and may be more than double again in 2006. Over 10,000 new endowment claims fell into the compensation scheme between April and September 2005 – far above the earlier forecast of 7,000 for the entire year – and this number may double again as the total figure could be more than three times higher than the January forecast at 22,000 between 2005 and 2006. Officials say the body now expects to complete around 15,000 claims during this financial y...