PIMFA: Treasury and FCA must review FSCS levy to protect sector and consumers
Probe into intelligence provisions also sought
The trade association argued that policy should be designed to minimise the need for compensation
Adviser and investment firm trade association PIMFA has urged the government and Financial Conduct Authority (FCA) to reform the Financial Services Compensation Scheme (FSCS) levy to protect consumers and the sector.
PIMFA said that while the FSCS plays a vital role in ensuring customers can confidently save and invest, every individual who has sought compensation through the scheme has suffered a poor outcome...
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