Advisers: FSCS levy roadmap 'workable' but regulator must listen

Advisers react to PIMFA’s latest FSCS levy intervention

clock • 4 min read

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...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Appointed representatives: Are you really in control of the risks?

Appointed representatives: Are you really in control of the risks?

'The FCA doesn't just want oversight, it wants evidence'

Paul Bruns
clock 06 October 2026 • 7 min read
Manchester City charges: Treasury Committee chair raises tax questions with HMRC

Manchester City charges: Treasury Committee chair raises tax questions with HMRC

As Tax Policy Associates points to potential £12m in unpaid tax

Jen Frost
clock 02 October 2026 • 2 min read
'Waiting for certainty can itself create the breach': When must a firm notify the FCA?

'Waiting for certainty can itself create the breach': When must a firm notify the FCA?

'A voicemail is unlikely to suffice'

Gareth Fatchett
clock 02 October 2026 • 5 min read