Light at the end of the FSCS levy tunnel for brokers?


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 pr