Williams de Broë hit for £1.4m FSCS levy

The fund manager paid a similar levy of just £0.2m in 2009. This year's levy on the investment management industry is to remedy the cost of major investment failures, mainly relating to Keydata, Wills & Co and other investment intermediary firms. Fund managers have been forced to pick up the overspill cost from the investment intermediation sub-class, to the tune of £233m. The total cost for the industry is £326m. Williams de Broë says it will absorb its share of the levy as an exceptional cost, "whilst in no way implicated in these failures".