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FSA levy
AJ Bell has changed the terms and conditions (T&Cs) of its SIPP products allowing it to pass on the costs of FSCS and FSA levies to investors in the future.
A new way of calculating IFAs' share of the FSA's annual fees which would see intermediary firms pay a third of current estimates in 2010/11 has been put to the regulator by the Association of IFAs (AIFA).
The FSA's immunity from civil action under conduct of business legislation is fuelling poor regulation and failure in the financial services industry, says an IFA support group.
Other FSA levy articles
A law firm preparing a legal challenge to an FSCS decision to levy advisers for a number of high-profile investment failures says it needs the backing of 1,000 IFAs to succeed.
The Financial Ombudsman Service (FOS) has been forced to upscale its workload figures as the number of new complaints continues to rise.
Lifemark, the life settlement vehicle embroiled in the collapse of Keydata, has been given a further six months to restructure.
The British Insurance Brokers’ Association (BIBA) has hit out at the industry’s regulators for imposing what it calls ‘disproportionate’ fee hikes and one-off levies on its members.
Ever tried reading Finnegans Wake or Moby Dick? How about Les Miserables, or maybe an FSA consultation paper...?
AIFA has hit out against proposed FSA levies as ‘poor value for IFAs' because it says they bear no link to real-life risks posed by advisers.
The FSA will charge firms a minimum £10 levy to fund the set up of a proposed Consumer Financial Education Body (CFEB).
The amount of FSA funding paid for by IFAs will fall by 8% to £40.2m in the upcoming financial year.
AIFA has criticised the FSA for charging life companies and fund managers ‘disproportionately low fees' compared to intermediaries.
Advisers should to be allowed to claw back some of their FSA levy if they actively invest in consumer education of finance, according to a proposal being tabled to the FSA.
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