PFS 'disappointed' FCA has ruled out product levy

"It is pleasing the FCA has broadened its review of FSCS funding in response to feedback from the sector," Richards (pictured) said. "While it is disappointing the FCA has effectively ruled out the possibility of introducing a product levy, it has acknowledged there are other ways it could more clearly link product risk to FSCS charges." Richards campaigned to former Chancellor George Osborne and his successor Philip Hammond to broaden the scope of the regulator's review of the lifeboat fund. FCA chief executive Andrew Bailey confirmed the regulator had done so in October. The PFS chief,...