FSCS's new funding proposal would add millions to advisers levy

The FSCS has published a consultation paper in which it proposed to calculate each year's levy based on the average of the expected compensation costs of the coming three years. The scheme argued that this way would make the system less volatile. It said: "Taking a 36-month view of expected costs may allow FSCS to reduce the volatility of annual levies, reduce the likelihood of interim levies, and give the industry greater certainty." Costs for some would go up under the new system. For instance, the FSCS calculated that costs for insurance intermediaries would go up by around £18m, f...