Brokers demand big changes in FSCS review

fsa-building-revolving-doors

The announcement that the Financial Services Authority (FSA) is to resume its review of the Financial Services Compensation Scheme (FSCS) funding has the potential to make a significant difference to the UK’s brokers.

The past few years has seen a massive hike in fees – some brokers faced a levy increase of 900% – but industry bodies are now taking a more positive view of the situation.

Steve White, head of compliance and training at the British Insurance Brokers’ Association (Biba), said the

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