FCA admits FSCS levy is unsustainable

Speaking at the Personal Investment Management & Financial Advice Association (Pimfa) Virtual Fest V2, FCA director of life insurance and financial advice Debbie Gupta the FCA admitted that admitted the Financial Services Compensation Scheme (FSCS) levy is unsustainable. She added that the regulator shares the frustration of wealth managers and advisers over the FSCS levy. It is estimated that the total industry levy for 2021/22 will be more than £1bn, up 48% on 2020/21.

https://citywire.co.uk/new-model-adviser/news/fca-admits-fscs-levy-is-unsustainable/a1478927

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