Brokers welcome FCA review on FSCS funding

Andrew Bailey

Brokers have welcomed the review into the way the Financial Services Compensation Scheme (FSCS) is paid for.

In a letter to Treasury committee chairman Andrew Tyrie, published yesterday, Financial Conduct Authority (FCA) chief executive Andrew Bailey said "work on the funding review is well underway".

Bailey stated that the regulator was looking at ways to make the fee more affordable: "To this end, we are working with the FSCS, Prudential Regulation Authority and the Treasury to examine whether

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