FSCS to enforce extra £78m levy on financial advisers

Rising claims against pensions advisers

FSCS chief executive Mark Neale

FSCS chief executive Mark Neale

Financial advisers will have to pay an extra £78m towards the funding of the Financial Services Compensation Scheme (FSCS) in the 2018/19 levy year as a result of the rising costs of claims against them.

The supplementary levy means that, in total, advice firms will have paid a total £197m towards the running of the lifeboat fund in 2018/19. The FSCS also released its budget for the next financial year...

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