Commitment to resolve 17% more cases
FCA shies away from product levy
The chairman of the Financial Services Authority (FSA) has defended the current system of regulatory fees and levies for small firms, arguing they are proportionate to the size of the firm.
The Financial Ombudsman Service has hinted at higher levies for the industry as a result of another spike in payment protection insurance (PPI) claims.
General insurance brokers could be hit with a £20m bill from the Financial Services Compensation Scheme (FSCS) and a further £40m hike next year as the fallout from payment protection insurance (PPI) continues.