Brokers to bear brunt of £51m additional FSCS levy
The body will take £51m from its retail pool and more cash from other classes to plug a £92m gap in life and investment space and brokers may have to cough up £29m.
Brokers could be hit with additional fees as the Financial Services Compensation Scheme (FSCS) said it will seek to raise a further £92m from levies in order to generate additional funding for its Life Distribution & Investment Intermediation (LDII) class.
The organisation said complex failures in the space meant it would seek additional fees across a number of classes including £51m from its retail category.
Of that £51m the general insurance distribution class, which brokers fall into, will
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