FSCS funding proposal lacks vision, logic and fairness – IMA

The FSA's proposed financial services compensation scheme (FSCS) funding model is fundamentally flawed, says the Investment Management Association (IMA) in its response to the regulator's consultation today. Guy Sears, IMA Director of Wholesale, says: "FSA's proposal is wholly unacceptable. "Their current model absolves banks and insurance providers of any obligation to…