APFA calls for official audit of 'unacceptable' FSCS spending

In its response to the FSCS' consultation on its levy for the coming year, APFA called the scheme's approach for spending industry money "concerning" and "not acceptable". It criticised the scheme's overspend on some of its outreach programmes and called on the National Audit Office (NAO) to conduct an independent audit of its value for money. It also called for an audit of the scheme's expenditure on recoveries, criticising its failure to do a "proper cost-benefit analysis" prior to launching legal actions against firms, and said it wanted FSCS to commit to freezing its overall costs...