Brokers demand big changes in FSCS review


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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