IFAs will only get 30 days to pay £70m FSCS bill | News | Money Marketing: "She says: “In addition to these firms, we are continuing to see more failures coming to us in the investment area, and these are likely to impact further on our funding requirements later in the year.”"
This is untenable, it is not sustainable any more than FSA fees or levies announced shortly before they are due.
The regulator insist that firm must know their financial situation by the day, well yesterday many IFAs were fairly certain about their balance sheet, today they are not.
Why should innocent advisers be shelling out for what the crooks did and the regulator failed to do? Acts and ommissions!!
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