ABI hits out at FSCS fee proposals
Biba says brokers should not be worse off and calls again for a separate funding class.
The Association of British Insurers (ABI) has attacked proposals by the Financial Conduct Authority (FCA) to change how it calculates fees paid by financial services firms to pay for the Financial Services Compensation Scheme (FSCS).
The fresh consultation, published today (30 October) makes further calls for providers to pay more towards the scheme.
It includes a proposal requiring product providers to contribute around 25% of the compensation costs which fall to the intermediation classes.
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