View more on these topics

FSA set for FSCS rethink

The FSA is understood to be looking at restructuring funding blocks for FSCS fees following criticism that some sectors have been paying too much.

An industry source says the regulator held a meeting on April 28 asking for feedback from trade bodies and product providers on how the blocks could be revised to make the system “more fair”. But the source says the discussions were “inconclusive”, with some “understandably anxious to keep their costs down”.

The source claims the FSA is responding to renewed industry pressure, particularly from the IFA sector, to address the FSCS fee system following major increases in FSCS fees.

Budge and Company director Kevin Anderson says: “Like most IFAs, I think it is unfair that we are paying for others people’s mistakes.”

FSA spokeswoman Vanessa Wood says: “We have had a good discussion. The consultation paper on this will be released after our May board meeting.”


FSCS steps in to assist Whiteley customers

The FSCS is stepping in to assist customers of Whiteley Insurance Consultants.The FSCS has declared WIC in default to enable it to provide immediate assistance to the provisional liquidators for emergency claims that fall within the scope of its protection, whilst the financial position of the firm is being established.FSCSs chief executive, Loretta Minghella says: […]

Drawdown drawbacks

Client fund size is the main barrier to recommending drawdown to clients, according to a GE Life survey conducted in association with Money Marketing.

Natixis video: Making smarter use of asset classes

Content supplied by Natixis Global Asset Management This video from Natixis Global Asset Management focuses on Active Share. One strategy for the smarter use of equity investments is ensuring you get what you pay for. According to the company, looking at Active Share can give you a better perspective on where performance comes from. Active […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment