Ken's column: FCA's objection to product levy

Last week, I speculated on the regulator consulting about firms putting ‘winding-down’ plans in place, and asked whether the Financial Conduct Authority (FCA) was expecting Armageddon.

A few days ago, the FCA stated that their review of financial services compensation scheme (FSCS) funding would preclude a product levy, so you do have to wonder. Their objection – that a product levy would require new legislation – is about as strong as a chocolate fireguard.

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