Second MP joins FSCS levy reform fight after adviser letter

Balance Wealth Planning managing director Rebecca Aldridge told Professional Adviser that she had written to her local MP Edwards to express her opposition to the FSCS levy. In the letter, Aldridge said she felt the levy funding model and structure was flawed. She said: "We are operating within a regulated environment where the cost of regulation by the Financial Conduct Authority (around £600m) has been exceeded by the cost of compensating customers due to failed implementation and policing of those regulations. That's not right." In response, Edwards recognised the concerns of th...