Wealth manager trade body PIMFA has branded the FSCS’s budgeted levy for 2020/21 of £635m as “totally unsustainable” and says the levy must be reformed.

The FCA issued 400% more clone and scam firm warnings in 2019 than in 2015, according to a Freedom of Information request obtained by Financial Planning Today.

The Personal Finance Society is to launch a campaign to “weed out” rogue firms operating in the Claims Management Company (CMC) sector.

The Financial Conduct Authority has secured High Court approval to return £2.5m to victims of a series of unauthorised collective investment schemes (UCIS).