Portfolio managers face 5.3% increase in FCA fees in 2017/18

FCA policy statement

Mike Sheen
clock • 1 min read

Portfolio managers will pay 5.3% more in regulatory fees in the 2017/18 financial year than the previous 12 months, bringing the annual total bill to £44.9m, the Financial Conduct Authority (FCA) has confirmed.

In a policy statement on its charges and levies for the year, the regulator also announced that asset managers (defined as managers and depositaries of investment funds, and operators of collective investment schemes or pension schemes) would pay an extra 4.3% during this financial year at £12.3m in total. However, portfolio managers are also set to receive a 24.1% rebate on the £10.7m collected from penalties applied on poorly performing firms. Asset managers' shares hit by FCA report Meanwhile, asset managers are set to receive 14% of the £1.7m in fines collected in their fee bra...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Regulation

Trustpilot