The Financial Services Compensation Scheme (FSCS) says it does not expect any major investment failures in the next financial year after setting another interim levy for financial advisers.
The FSCS's investment intermediation sub-class, which includes investment advisers, was yesterday told it will have to pay a £60m levy to cover compensation costs related to the collapses of MF Global, Keydata and Wills & Co. Invoices are set to come through the post by the end of the month and a 30-day deadline has been set to make the payments. But, in a rare piece of good news for advisers, it indicated the large interim levies seen in the last few years may not be repeated next year. It said: "The FSCS is expecting claims against Keydata to start tailing off and it is not expec...
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