Biba urges brokers to budget for £21m FSCS levy

Eric Galbraith

The broker trade body has admitted that a previously reported further £21m levy from the insurance intermediary sub-class is imminent. 

And it has urged brokers to start budgeting now for the new levy which would be about 55% of brokers' previous 2012/13 FSCS regulatory bill. 

In his most recent Biba member update, chief executive Eric Galbraith wrote: "With every likelihood that an interim FSCS level will hit brokers in the coming months, members should be budgeting for a potential level of up

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