FSCS to enforce extra £78m levy on financial advisers
Rising claims against pensions advisers
Mark Neale: "This is the last FSCS Plan & Budget that I shall introduce as chief executive."
Financial advisers will have to pay an extra £78m towards the funding of the Financial Services Compensation Scheme (FSCS) in the 2018/19 levy year as a result of the rising costs of claims against them.
The supplementary levy means that, in total, advice firms will have paid a total of £197m towards the running of the lifeboat fund in 2018/19. The FSCS has also released its budget for the next financial...
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