The investment intermediary sector is in line for more payments to the Financial Services Compensation Scheme after it increased its annual levy to £265m.

This figure is an increase of £44m on the initial figure of £221m, which was already up by £4m on 2011/12.

The main reason for the higher levy was an increase in the number of claims relating to firms such as MF Global and CF Arch Cru.

As a result, the investment intermediary sector has seen its proportion of the levy increase from £33m to £78m.

The sector has already paid an interim levy of £60m for the failures of the same firms.

Mark Neale, FSCS chief executive, said “We know the levy will be unwelcome news for firms during tough times. But the increases in levies in some areas follow a thorough review of claims coming in and those we can reasonably expect in 2012/13.

“We shall also do everything we can to offset the costs of compensation for the industry by maximising recoveries from failed businesses and third parties who were also responsible for consumers’ losses. The levy announced today assumes that we shall recover £20.45m in 2012/13.”

The news of the levy comes in the same week as a widely-supported campaign from Financial Planner Martin Bamford CFP^CM whose petition for a fairer FSCS funding scheme received over 1,400 signatures.

This petition was sent to Mr Neale as well as Mark Hoban MP, Financial Secretary to the Treasury and Hector Sants, chief executive of the Financial Services Authority.

Mr Neale said: “I do recognise that many in the industry continue to have concerns about the fairness and unpredictability of FSCS’s levies. That is why we have strongly supported the FSA’s review of FSCS future funding arrangements which will result in a consultation later in the year. We want to place FSCS’s funding on a sustainable basis which commands wider support across the industry.”