FSCS lands investment advisers with 34% levy increase

This is up from last April's figures when the FSCS said it would levy a £78m bill on investment advisers in 2013/4, with failed firm Keydata highlighted as one of the main cases contributing to the overall bill. The FSCS blamed the increase announced today in part on compensation claims triggered by the collapse of ARM traded life settlement distributor Catalyst. The levy for life and pensions intermediaries was also up by £27m, from £13m last year to £40m for the coming period. The FSCS said this was because the level of claims it is receiving "indicate a rising trend". Elsewhere ...