Advisers back FSCS levy cut plan as PIMFA urges FCA to go further

Levy is 'bone of contention' for advisers

clock • 3 min read
Advisers back FCA plan to cut FSCS levy as PIMFA urges regulator to go further
Image:

Advisers back FCA plan to cut FSCS levy as PIMFA urges regulator to go further

Advisers have backed moves by the Financial Conduct Authority (FCA) to reduce their Financial Services Compensation Scheme (FSCS) bills but trade association PIMFA has said its plans do not go far enough.

The Financial Conduct Authority (FCA) outlined its plans to stabilise the lifeboat fund's levy demands and reduce the burden on advisers by 10% year-on-year from 2025 to 2030 in its paper on consum...

To continue reading this article...

Join Professional Adviser

 

  • 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

Stacey Love, tax and estate planning specialist at Canada Life, said: "It's great to see that the message to register is starting to get through to Trustees, however the clock is ticking and we still have a long way to go to ensure all the trusts that are required to register do so by the deadline."

Trust registrations jump ahead of legal deadline - Canada Life

1m trusts still to be registered

clock 15 August 2022 • 2 min read
David Tiller: "Consumer Duty has raised the bar by introducing the anticipatory element of foreseeable harm. It has also re-emphasised the need to manage conflicts and place client interests at the fore."

David Tiller: Consumer Duty evidencing foreseeable harm 'a challenge' for platform tech upgrades

Cross-cutting rule

David Tiller
clock 12 August 2022 • 4 min read
Chris Davies: Consumer Duty unpicked - what advisers need to do next

Chris Davies: Consumer Duty unpicked - what advisers need to do next

'All-encompassing regulatory directive'

Chris Davies
clock 11 August 2022 • 7 min read