Compliance
UK Advisors' Regulatory Fees Set To Climb Nearly 5 Per Cent
The UK's Financial Conduct Authority has confirmed some of its plans outlined in a consultation in April.
The UK's financial services watchdog has confirmed its plans to
hike advisors' regulatory fees 4.7 per cent.
In a policy statement on its bills for the year, the Financial
Conduct Authority has announced its fees for the A.13 block,
which includes financial advisors, will increase from £73.7
million ($95.4 million) to £77.1 million.
The increase reiterates plans outlined by the regulator in an
April consultation on funding for 2017/2018.
But the news for advisors is not all bad.
The FCA said in its policy statement that £3.9 million will be
handed back to the A.13 block from penalties imposed on
poorly-performing firms, £500,000 less than the £4.4 million
estimated return set out in April's consultation.
