Light at the end of the FSCS levy tunnel?
It remains unclear whether brokers left reeling by huge increases in the Financial Services Compensation Scheme will be able to seek a retrospective reduction from the regulator.
Intermediaries have experienced hikes of 800% or more in this year's levy. The mis-selling of payment protection insurance, a product that has not been sold in any significant volume by brokers, is mainly responsible for the increase.
One broking firm has seen its levy increase from just over £9,000 last year to nearly £80,000 this year, while another has seen an increase from £5,500 to almost £50,000 in the last year.
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