Sesame has moved to give members the option of spreading Financial Services Compensation Scheme (FSCS) interim levy over two years.

This is the first time that Sesame has offered its members a two-year payment option, which is double the existing 12-month instalment option that is the most popular method of paying regulatory fees by firms in the network. Sesame is now writing to members with full details of the options available.

Nick Kelly, managing director, distribution, said: “The substantial additional FSCS levy is a body blow to advisers