The Financial Services Compensation Scheme (FSCS) has said it does not expect to raise an interim levy in any sector this year, though CEO Mark Neale said he recognises this will come as "cold comfort" to some advisers.
Life and pensions advisers suffered a double blow earlier in 2015 when they were asked to contribute towards a £20m interim levy for 2014/15 in March and then, a month later, discovered their share of the FSCS's annual levy for 2015/16 was rising to £100m, markedly above the amount forecast. Both actions were as a result of claims relating to bad advice by financial advisers to transfer funds from existing pension schemes into self-invested personal pensions (SIPPs). The prospect of another interim levy on life and pensions advisers - and potentially on all advisers - looked distinctl...
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