IMA calls out FSA on supervisory costs increase

The IMA is calling on the FSA to give further explanation as to why there has been a significant inc...

The IMA is calling on the FSA to give further explanation as to why there has been a significant increase in supervisory costs for large firms. The move comes in response to the FSA's consultation paper - Regulatory Fees and Levies for 2009/10. The FSA has stated most of the increases will be passed on to deposit-takers and high impact firms. However, the IMA says it is important to note on further inspection the fund management industry will also face a 7.9% rise, which will have an impact even on large firms that have seen funds under management decrease. Guy Sears, director of wh...