The Financial Conduct Authority has laid out its proposal to increase regulatory fees and levies for the new financial year and is now seeking feedback from the industry.
After freezing minimum and flat rate fees last financial year, the FCA has today (9 April) confirmed it plans to increase them in 2024/25, along with application fees, in line with the 8.8% increase in its ongoing regulatory activities (ORA) budget. "We recognise that firms continue to face inflationary pressures, but we must also consider the impact of inflation and our expanding workload on our costs," it stated. "Deferring the uplift merely passes on our costs into future years, placing greater pressure on variable fee-payers." The FCA added: "We believe increasing minimum and flat...
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