regulatory fees

The Association of Professional Financial Advisers (APFA) has urged the regulator to re-consider reviewing the way it calculates the fees paid to it by advisers, after plans to overhaul the area were scrapped.

The National Audit Office (NAO) has called on the financial regulators to show they are providing value for money after finding they do not have processes in place to judge the best use of their cash.

The Financial Services Compensation Scheme (FSCS) is to pay out £100,000 to around 400 savers after a Kent-based credit union collapsed.

Treasury committee chairman Andrew Tyrie has accused the regulator of overcharging the advice community and asked for a refund of fees at today's grilling of chief executive Martin Wheatley and chairman John Griffith-Jones.

Investment advisers may contribute almost £15m towards the day-to-day running of the Financial Services Compensation Scheme (FSCS) in 2014-2015.

The Financial Conduct Authority (FCA) will not reimburse advisers for previously 'overpaid' fees if the proposal to cut regulatory costs from next year comes into force, chief executive Martin Wheatley has said.

The Financial Ombudsman Service (FOS) plans to freeze the levy it collects from firms and cut its budget by 20% over the coming year.

The Association of Professional Financial Advisers (APFA) has called on the regulator to adjust next year's fees for advisers to "correct the error that occurred" in the previous year.

Adviser charges based on hourly rates have largely remained the same as before the Retail Distribution Review (RDR), research commissioned by the Association of Professional Financial Advisers (APFA) suggests.

The Financial Conduct Authority (FCA) has confirmed its levy for the coming year will be £432.1m, with financial advisers contributing 9% of the total.