Increased FSCS bill would be pure theft : Adviser writes to MP over LCF saga
FCA incompetent, but Bailey not to blame
Liversidge said that since LCF’s collapse in 2015, blame and ordure has been heaped onto the regulator, particularly onto ex-FCA chief executive onto Andrew Bailey.
Adviser Neil Liversidge has written to Treasury Select Committee Chairman Mel Stride MP to say that the financial services industry should not pay for the damage cause by the collapse of London Capital & Finance (LCF).
In the letter, sent on Tuesday (9 February) and seen by Professional Adviser, the West Riding Personal Financial Solutions managing director said that if the burden falls onto the Financial Conduct Authority.
Treasury Taskforce to address FSCS levy concerns and work with FCA
Plus online scams
The Taskforce said the industry will work with the regulatory to address concerns surrounding the FSCS levy, which has caused frustration amongst financial service professionals due to its price consistently increasing.
The Treasury’s Asset Management Taskforce has said the financial services sector will work with the Financial Conduct Authority (FCA) to address Financial Services Compensation Scheme (FSCS) levy issues.
The meeting, held on Wednesday (20 January), was attended by the City Minister John Glen MP, FCA personnel and 10 industry representatives. Members of the taskforce include Investment Association Chair.