Investment advisers get £6m cut from FSCS levy

In an update, the FSCS said its 2011/12 annual levy for the investment intermediation sub-class had dropped from £40m to £34m. The FSCS had projected the £40m figure in its Plan and Budget, published in February but the costs have now been allocated to the life and pensions intermediation sub-class. Its levy for that class has increased from £10.5m to £21.5m as a result, and to cover what the FSCS expects to be a continuing flow of mortgage endowment and pensions claims. The FSCS says: "The increase in the compensation costs, and hence the levy for this sub-class [life and pensions...