PIMFA urges FCA to use fines for FSCS levy as regulator fines Barclays

FCA fines are a recognition of institutions having inadvertently or otherwise introduced harm into the market, according to Simon Harrington, senior policy adviser, PIMFA. He said using the money to help pay FSCS levies would be the "purest" way to apply the 'polluter pays' model. The lifeboat fund's levy has been rising consistently for years. Many argue the system ensures the 'good guys' pick up the tab for bad actors who leave their liabilities on the rest of the industry.  Speaking at the launch of the FCA's business plan, CEO Nikhil Rathi said the regulator's aim was to "bring do...