Keydata levy clouds bright PosSol start

The Aegon-owned company's share of the £80m FSCS charge to bail out customers of Keydata and two stockbrokers has been described as "significant" by CEO Jim Reeve. In an update to partners, Reeve says: "The impact on ourselves is significant with us having to absorb an additional cost over £1m. In my opinion, this levy is simply unjustified." The charge will impact on what Reeve says has been an "exceptional" start to 2010, with turnover up by 12% to £22.3m. He says business turnover increased by 21% in March alone, driven by an "extremely successful" tax year-end ISA campaign. ...