@peter_IFAMAG reads Twitter so you don’t have to.
Financial Services Compensation Scheme bill rises for financial planners. Meanwhile, This is Money reveals fraudsters and criminals have utilised Rishi Sunak’s COVID Loans.
First, Economist Jens Nordvig makes some observations about working from home.
https://twitter.com/jnordvig/status/1297916853570985989
Chartered Financial Planner Darren Cooke shares his experience of FCSC bill.
FSCS bill has landed and it is up 42.6% with less than £100 of the increase not being due to the increase in the FSCS part.
Add that to the additional levy we paid in January and this year my FSCS costs have risen over 90%
Something has to change
— Darren Cooke (@RedCircleFP) August 24, 2020
Another chartered financial planner, Stephanie Pickering, saw a £3000 rise in FCA fees.
How to ruin a trip away – receive the @TheFCA invoice with at least a £3000 rise in fee – absolutely unbelievable how are good small firms supposed to just cover this/write this off? PI renewal due next month that will be fun! NOT!
— Stephanie Pickering (@stettip) August 24, 2020
Lloyds faces fresh embarrassment over HBOS Reading scam.
Exc: Lloyds facing fresh embarrassment over HBOS Reading scam as victims representatives say latest compensation scheme risks failing them yet againhttps://t.co/9lMSxDF1B2
— James Hurley (@jameshurley) August 24, 2020
And finally, This is Money find fraudsters and criminals have taken advantage of COVID business loans.
Fraudsters raid Chancellor Rishi Sunak's loan fund https://t.co/f8pIeLxx7G via @ThisIsMoney. Insiders in banks are filtering dormant accounts. They then change these into BBILS with the insider taking £10,000 in payment. Gangs along the South Coast are doing this. FCA aware.
— Banking Reform. (@smepathfinder) August 25, 2020
What are your thoughts on these tweets?
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