FSCS may demand £30m more from advisers

A number of firms applied to the scheme for a reduction in their levy due to errors in the tariff data submitted by them to the FSA. In its annual report and accounts the FSCS said it is still investigating the claims, which total nearly £80m, and has set aside a provision pool for refunds of £30m. The shortfall created by refunding firms which overpaid may lead to further levies for other advisers, the FSCS said. "A number of firms have applied for a reduction of the amount levied due to errors in the tariff data submitted by them to the FSA....