SJP frustrated over 'unjust' FSCS payments

In its annual accounts SJP said payments to the FSCS rose to £6.9m in 2012, up from £3.5m the previous year - "unjust" considering the firm does not advise on unregulated collective investment schemes (UCIS), CEO David Bellamy (pictured) said. "We don't have Keydata, Arch Cru or any of those things," he said. "The challenge is you start the year with a set of budgets and forecasts in place, and then you get things that come from left field that do feel a little bit unjust." An alternative funding model for the industry, long advocated by advisers, would present a "challenge" for the F...