While advisers have welcomed a new roadmap designed to tackle the Financial Services Compensation Scheme (FSCS) levy from trade body PIMFA, there are doubts about the impact it will have.
Earlier this week, PIMFA unveiled its roadmap for providing better consumer protection and lowering the FSCS levy. It wants HM Treasury to review the drivers of FSCS levy costs and to look into ways of limiting firms from phoenixing in the future. Regarding the Financial Conduct Authority (FCA), it says the regulator needs to review its supervisory approach against risk assessment of firms adding cost to the FSCS and report against this. It is also urging the FSCS to review intelligence provision and provide an annual assessment of whether the FCA has acted upon it. Chapters Fina...
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