CCR Magazine

You are here  :Home arrow News arrow AMI’S SINCLAIR REITERATES CALL FOR UP-FRONT PRODUCT LEVY TO FUND FSCS
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines

Headlines

 
Commercial Credit News

Headlines

 
AMI’S SINCLAIR REITERATES CALL FOR UP-FRONT PRODUCT LEVY TO FUND FSCS PDF Print E-mail
Thursday, 18 May 2017
AMI’s Robert Sinclair today re-iterated his calls for a fairer FSCS system which would be based on an up-front levy for all financial products sold. 

Speaking at today’s FSE Manchester event, Sinclair said: “AMI would prefer an up-front product levy in order to fund the FSCS. This would cover every single financial service product and would put a kite mark on a product so that consumers would know they were protected; no kite mark, no protection.”

Sinclair did acknowledge that political and regulatory upheaval probably meant such a change was unlikely in the short-term.

However, he argued revisions could still be made. “At the least you should only pay for misdemeanours that take place in the areas in which you operate,” he said. “If you advise on mortgages you should not be paying for problems in pensions, for example.”

He also said that AMI were seeking a 30% input into the scheme from providers, plus the trade body wanted to see quality discounts and risk-based levies for firms.

“Good firms who do good things, who have good PI cover, should pay less,” he argued. “Most firms who have PI cover, never even claim on it.”
 

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

subscriptions

CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


 

Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road
Southend-on-Sea
Essex
SS1 1EP

Registered in England No: 05483197