Aberdeen in talks to buy Australian funds

fsa unveils proposals to alter the way it operates compensation schemeLevy revamp mooted

BY margaret taylor Total Financial Services Compensation Scheme (FSCS) levies will rise significantly in the 2008/09 tax year, with any large claims to be paid for by all contribution groups. Under proposals outlined by the FSA, the overall financial capability of the compensation scheme will be increased by up to £4.4bn a year. In its funding review document, the FSA said this will be done in two ways. "First, we propose to raise some of the caps that set an annual limit to the amount levied from individual sectors, even if the compensation costs caused by defaults in that sector are ...