Will a risk-based FSCS levy become reality?
The Financial Services Compensation Scheme levy may be one of the issues which most vexes advisers who run their own firms.Indeed the overall FSCS levy has increased in nominal terms from less than £300m in 2011-12 to an expected levy of £717m in 2021-22.The Financial Conduct Authority has accepted this situation is not ideal and it has admitted the burden of the levy has fallen on firms which have done nothing to bring about these liabilities.So now the regulator has set out plans to address this by tackling the root cause of high FSCS costs through a more stringent appointed representative…
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