Financial Compensation Scheme (FSCS)

Brokers "ready for a fight" over FSCS levy

The British Insurance Brokers' Association (Biba) said that the recent invoices received by members from the Financial Services Authority (FSA) for the 2010-11 fees and levies have highlighted the inequality of the current funding of the Financial…

Opinion: Editor's comment - July 2010

Have you received your letter, the one that informs you that your Financial Services Compensation Scheme (FSCS) bill has gone up a bit? "A bit?" I hear you cry. And cry you might for brokers are reporting increases of up to 800%.

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.

Viewpoint: The iniquity of regulation

Concerned over potentially crippling regulation costs, Barbara Bradshaw suggests the FSA could look internally at its own spending before loading fees onto the insurance industry and, ultimately, the consumer.

'Obscene' levies squeeze broker finances

Brokers could be forced out of business as a result of huge financial demands in the shape of a £70m levy made by Financial Services Compensation Scheme (FSCS) and a significant increase in minimum Financial Services Authority (FSA) fees

FSCS predicts rise in PPI claims

Rising payment protection insurance (PPI) and investment claims are key drivers of compensation costs for the rest of 2009/10 and into 2010/11, according to the Financial Services Compensation Scheme.

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