IMA mulls judicial review of FSCS levy

A spokesperson for the IMA says the organisation is in talks with the FSA, the FSCS and lawyers about the levy which has hit fund managers for £233m. An IMA-led judicial review is "under consideration" but the spokesperson would give no further details for fear of jeopardising talks with the regulator. The move comes as investment advisers, who are outraged at being forced to pay £93m of the £326m interim levy, have organised an FSCS Levy Action Group to fight the bill. Compensation costs linked to the failure of Keydata was the primary cause of the huge rise, the FSCS says, as wel...