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FSCS £1bn levy warning is a ‘scandal’ - PIMFA

Wealth manager trade body PIMFA has attacked the FSCS forecast today of a £1bn compensation levy as a “scandal” which points to regulation failing consumers and firms.

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FSCS levy to soar by a third to top £1bn

 

The Financial Services Compensation Scheme is forecasting a levy for 2021/22 of £1.04bn, up £339m from the £700m raised the previous year due mainly to soaring numbers of claims.

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FSCS declares 13 firms in default in 2 months

The Financial Services Compensation Scheme (FSCS) has declared 13 firms in default during November and December including several wealth management and Financial Planning firms.

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Exclusive: FSCS clients being ripped off twice over

 

The FSCS has revealed that some compensated clients are losing their money a second time when they invest with another firm which also goes on to fail.

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