levy

Financial advisers are renewing calls for the Financial Conduct Authority (FCA) to make better use of the 'exceptionally severe' fines it levies on the industry, including by using them to cut regulatory costs.

Professional adviser body the Personal Finance Society (PFS) has called for the introduction of a product levy to help reduce the regulatory cost for advisers.

Insurer LV= has called for a levy to be put on transactions where a client purchases a retirement plan from their existing pensions provider.

Regulators have proposed levying the industry £74.4m to pay for the day-to-day running of the Financial Services Compensation Scheme (FSCS) up until next March, a 6% fall on last year's levy.

Consumers should pay a share of the cost of the guidance guarantee, or they will fail to value the service, an adviser has argued.

The Association of Professional Financial Advisers (APFA) has welcomed new proposals to fund the guidance guarantee set out by the regulator today, saying it could save the advice industry £2m-£4m a year.

Investors who put money into failed life bond scheme Catalyst via their Standard Life self-invested personal pension (SIPP) have been told they have longer to wait before finding out if they are eligible for compensation.

There is a medium risk of an interim levy on life and pensions advisers from the Financial Services Compensation Scheme (FSCS) due to the volume of claims against self invested personal pension (SIPP) providers, it has said.

The Financial Services Compensation Scheme (FSCS) has made top-up payments to Keydata investors after it recovered money from the underlying bond Lifemark's trustees.

The Financial Services Compensation Scheme (FSCS) will start inviting claims against Catalyst Investment group from investors in the ARM Asset Backed Securities life settlements fund by the end of March.