'FCA's failure to supervise leading to FSCS levy hikes': PIMFA

The Personal Investment Management & Financial Advice Association's (PIMFA) latest report FCA Supervision - fit for purpose?, published this Monday, slammed the regulator for not properly supervising some firms linked to FSCS claims. "PIMFA recognises that the FSCS provides a valuable safety net for retail clients and enhances consumer confidence when engaging with financial services firms. Member firms are of the view that a number of material claims on FSCS are attributable to an ongoing failure of FCA's supervisory regime." While PIMFA said it did not advocate a no-default supervis...