The Association of Independent Financial Advisers (AIFA) has called for a consultation on Financial Services Compensation Scheme (FSCS) levy rebate.

This follows the news that the Norwich & Peterborough Building Society has agreed to repay money to the FSCS over the collapse of Keydata.

Stephen Gay, director general of AIFA, said: “The news that Norwich & Peterborough Building Society has agreed to pay the FSCS to cover the cost of compensating investors after Keydata’s collapse is in line with the principle of the polluter pays.