Delay could mean even bigger FSCS levies for brokers

The long-awaited review of the Financial Services Compensation Scheme (FSCS) is subject to indefinite delay, Insurance Times reports this week.

This latest development has led to fears that brokers could expect a further sharp increase in the levy next year.

FSA chief executive Hector Sants said the FSA was waiting for the government’s wider review of the scheme to conclude before restarting its own work on the levy.

Brokers were recently told the levy for next years is set to rise to £93.5m. Senior industry officials have slammed the delay.

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