Regulatory Alerts2024-09-27
FSCA Communication 36 of 2024 (GENERAL) – Consultation Report on Budget, Levies and Fee Proposals
The Financial Sector Conduct Authority issued this consultation report to finalize its budget, expenditure estimates, levies, and fees proposals for the 2024/2025 financial year after reviewing ninety-four submissions from seventeen industry stakeholders. The regulator confirmed a proposed six percent levy increase, which remains below the 6.9 percent average Consumer Price Index for 2022, while addressing stakeholder concerns regarding operational funding adequacy and fee transparency. These finalized proposals align with the Financial Sector Regulation Act and Levies Act, ensuring sustainable funding for regulatory activities without imposing excessive financial pressure on smaller businesses.
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