The Financial Services Compensation Scheme is set to increase its levy yet again as it faces a £92m shortfall, according to its half-year Outlook report published today.

New Personal Financial Society President Sarah Lord FPFS has spoken exclusively to Financial Planning Today about the work the professional body is doing to tackle rising FSCS levy fees and her thoughts on what makes Financial Planners special.

The Financial Conduct Authority expects a significant number of smaller regulated firms to fail over the next few months.

The Financial Services Compensation Scheme has paid out just over £38.1m in compensation to LCF customers, a substantial increase from the £20m paid out by August when the body increased the team allocated to the case by nearly 80%.