The 25% contribution providers will now have to pay towards advisers' Financial Services Compensation Scheme (FSCS) bill "does not reflect the realities of adviser failure," according to the ABI.
This morning the Financial Conduct Authority (FCA) confirmed providers would be required to contribute 25% of life and pensions and investment intermediaries' FSCS levies. The Association of British Insurers (ABI) expressed disappoinment with the decision to proceed with its proposal to levy providers alongside advisers, with director of regulation Hugh Savill saying: "It does not reflect the realities of adviser failure and does not ensure those responsible are the ones who pay. "The FCA needs...
Firm's market share increased to 11.2% during Q1 2018
Two in five employees have never checked for common cancers
Ann Harris and Mike Dailly start roles on 1 October
Commercial insurance platform providers are showing interest in the life space in a bid to help improve the accessibility and cost of cover for the self-employed, writes Suzanne Clarkson