Regulatory Alerts2013-03-25
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FCA Regulated fees and levies 2013/14
The Financial Conduct Authority (FCA) has published Policy Statement PS13/6, detailing the final rules for its 2013/14 periodic regulatory fees and levies, including those for the Financial Ombudsman Service and Money Advice Service. This statement provides feedback on responses to Consultation Paper 13/1, confirming the £432.1 million Annual Funding Requirement for the FCA and explaining the allocation of fees across various firm categories, with an overall 15% increase in combined FCA/PRA costs. The document addresses stakeholder concerns regarding the fee increases and transparency, while maintaining the minimum fee for firms at £1,000, and announces that invoices will be issued from July 2013.
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