FCA set to almost double minimum fee for financial services firms

From £1,151 to £2,200

clock • 2 min read
The FCA has committed to investing £120 million over the next three years to strengthen its capability for surveillance and intelligence to better identify firms and individuals of concern.
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The FCA has committed to investing £120 million over the next three years to strengthen its capability for surveillance and intelligence to better identify firms and individuals of concern.

The Financial Conduct Authority (FCA) wants to raise the minimum fee paid by financial services firms to cover the increased costs of regulation.

In a consultation published today (30 November), the body outlined its plans to increase the minimum fee from £1,151 to £2,200, which would "better reflect the costs associated with the authorisation and supervision of 51,000 firms throughout the UK". The minimum fee was set at £1,000 in 2010/11, and has grown to £1,151 over the last decade. It was frozen at that level last year to protect the smallest firms during the pandemic. FCA pours £5m into laptops for hybrid working The regulator has calculated the new minimum fee after factoring in the costs of regulatory reporting, its su...

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