Light at the end of the FSCS levy tunnel for brokers?
Industry opinion split over long-term trend after unexpected levy reduction
Brokers were given a welcome surprise last month in the form of a reduction in the Financial Services Compensation Scheme (FSCS) levy for 2014/2015.
The government body reduced the cost for insurance intermediaries to £38m, down from the indicative levy, forecast in January of this year, of £62m. The total levy was reduced from an indicative figure of £313m to £276m.
Drop in PPI claims
Mark Neale, chief executive at the FSCS, said the reduction was due to a predicted downward trend of payment
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