Advisers face another FSCS interim levy after Catalyst/ARM failure

Carmen Reichman

The Financial Services Compensation Scheme (FSCS) has said it expects to raise a supplementary levy on investment advisers before the end of the current levy year, to make up for losses incurred by the failings of ARM bonds and their distributor Catalyst.

FSCS chief executive Mark Neale said the losses incurred by ARM investors would likely be in "the tens of millions of pounds". Though the FSCS did not detail the amount of the latest levy, it will likely...

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