The FSCS will start notifying the "large number" of firms who claim they filled in the wrong tariff data used to calculate their interim levies whether they are entitled to money back.
In an open letter published yesterday, the compensation scheme said it expects to begin notifying firms of its decisions next month. However, it is unlikely to be able to say at that time how much remission or rebate firms are due, or if any further levy is payable. The FSCS said it has received a "large number" of requests for it to review tariff data from both the investment management and investment intermediation sub-classes. Firms which submitted income on a gross basis are not likely to get money back as the FSCS states it is "not currently inclined" to consider that to be ...
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