The current Financial Services Compensation Scheme (FSCS) levy systems are outdated and must be overhauled, Personal Finance Society (PFS) chief executive Keith Richards has told Professional Adviser.
Yesterday (21 January), in its suitability review, the FCA said the transfer of compensation costs such as personal indemnity (PI) via the FSCS levy places an "unfair" burden on the FSCS and other firms....
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