03/02/2012 - Adviser FSCS 2012 Bill Could Be £73 Million

Adviser FSCS 2012 Bill Could Be £73 MillionAdviser FSCS 2012 Bill Could Be £73 Million.

The Financial Services Compensation Scheme (FSCS) has set its 2012/13 annual levy for financial advisers at £33 million, but has warned they could also face a further interim levy of £40 million.

The levy relates to compensation for claims on Keydata, Arch Cru, Wills & Co and other investment firms. The potential £40 million interim levy does not include any potential MF Global claims.

The FSCS is predicting they will receive further claims in 2012/13 relating to Arch Cru, Keydata, and structured products in general.