FSA staff costs up IFA fees by 10%

The FSA’s Regulatory Fees and Levies Consultation reveals fees in the IFA fee block are to rise 10% - reflecting a rise of 13.4% in the fee-block’s annual funding requirement (AFR), a slight increase (4.4%) in tariff data and an 8.6% larger population of firms than in 2006/07. Minimum fees payable to the FSA will increase by 2.8%, which means fee increases are capped at this level for 40% of firms in the IFA fee block who pay only the minimum fee. In its latest Business Plan, the FSA says the increase in the AFR is needed to fund a budget of up to £50m over the next three years to impro...