FSA reveals funding plans

The Financial Services Authority (FSA) has published its proposals for the funding of the Financial Ombudsman Service (FOS) and the Financial Services Compensation Scheme (FSCS) by general insurance brokers.

In order to fund FOS, the FSA will charge brokers based on their annual income. Brokers will have the option of reporting a tailored income figure that more accurately reflects the proportion of their business that could give rise to eligible complaints. Such eligible complaints include t