AWD: FSCS levies will 'fall within in two years'

Advisers FSCS levies are £76m for 2013/14 and were £78m 2012/13 and additional interim levies have been charged for the last four consecutive years. Much of these levies relate to the costs of failed life-settlement investment firm Keydata, and AWD is among the firms defending its advice against attempts by the FSCS to clawback compensation it has paid out to AWD investors. The Financial Conduct Authority (FCA) controversially increased the FSCS levy threshold for advisers to £150m in 2013/14 from £100m. The threshold represents the maximum that investment advisers can pay in a yea...