A total of 678 signatures have been collected for a petition to the FSA and the Treasury calling for a review of the funding of the FSCS.
The FSCS Levy Action Group was set up last month by Informed Choice managing director Martin Bamford amid outrage over the interim levy of £93m to cover claims against Keydata Investment Services, Wills & Co and other investment intermediary firms. Informed Choice itself was hit by an interim levy of £10,012, up 650% on April 2010, while the group says some firms saw their levies rise by as much as 756%. Bamford says: "I was really pleased to see we had so many people signed it. I'm just one person, so it's good to have so much support. "As an industry, we have been able to unite ...
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