The FSA has said it is "very conscious" of the strength of feeling from financial advisers regarding the Financial Services Compensation Scheme (FCSC) levy in a written response to a recent petition from the FSCS Action Group.
The letter from FSA managing director Martin Wheatley said it would take this into consideration during the industry consultation on the matter due later this year. The FSCS announced it would raise a £60m interim levy from financial advisers and other investment intermediaries in March and companies were given 30 days to pay the fees. The letter from Wheatley was addressed to managing director of Informed Choice Martin Bamford who co-ordinated a petition on behalf of the FSCS Action Group which last month delivered 1,421 IFA signatures to the FSA criticising the way the levvy is rais...
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