APFA welcomes £5m fall in FSCS costs levy

Regulators have proposed levying the industry £74.4m to pay for the day-to-day running of the FSCS up until next March, a 6% fall on last year's levy. APFA director general Chris Hannant (pictured) said: "Any fall in the costs borne by advisers is to be welcomed, with the proposed reduction in the levy just over £5million compared to last year. It is important that the regulatory bodies maintain a strong discipline on costs." The planned "management expenses levy" is £69.1m, the minimum amount that will be levied for the period to pay for non-compensation costs the FSCS incurs in its ...