Brewin Dolphin in FSA talks after profits slashed by FSCS levy

Profit before tax, excluding exceptional costs such as the FSCS levy, was up 9.6% during the half year to March 27, at £22.9m. But after the one off costs, profits were down more than a fifth compared with a year earlier, at £12m. The company said it is "pursuing an active role" with regulators to prevent such large levies being imposed on the industry in future. "The cost of regulation has a material bearing on the fortunes of your company," Brewin Dolphin said. The Financial Services Compensation Scheme (FSCS) billed the investment management industry £233m to cover the cost o...