Brokers facing further FSCS levy hikes

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The Financial Services Authority (FSA) set the 2012/13 Financial Services Compensation Scheme (FSCS) levy for the general insurance intermediary sector at £36m in its outlook last year.

This was a revision of the indicative levy of £57m previously announced, which the FSCS said was mainly because of a decline in the number of payment protection insurance (PPI) claims it expected to receive in the coming months, compared to expectations earlier in the year.

However, last month the government body

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