Adviser FCA fees down 19% after fee block realignment

clock

Financial advisory businesses will contribute £68m to the Financial Conduct Authority's funding requirement for 2014-2015, a near-19% reduction on last year following a re-working of the regulator's fee blocks.

In 2013-2014, advisers paid a total of £83.6m, but many of these costs have been removed following a decision to add a new fee block for firms holding or controlling client money or assets. The 2013-2014 allocation also included a £3.7m one-off amount covering the accumulated three-year Retail Distribution Review (RDR) project costs, the regulator said. Details of the FCA's funding requirement and the contributions of fee payers were outlined in its Business Plan on Monday. Earlier this year, the FCA consulted on creating a new fee block (A21) for firms carrying on investment busin...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

FCA urged to 'think again' on targeted support annuity rules

FCA urged to 'think again' on targeted support annuity rules

Regulator’s MoneyHelper signpost criticised as a ‘real limit’

Isabel Baxter
clock 03 September 2025 • 2 min read
FCA continues data reporting cuts

FCA continues data reporting cuts

Regulator removes more data returns

Isabel Baxter
clock 28 August 2025 • 1 min read
Regulatory and employment-related changes – what do firms need to prepare for?

Regulatory and employment-related changes – what do firms need to prepare for?

‘Getting these issues right is not just about avoiding regulatory action or tribunal claims’

Sophie White
clock 21 August 2025 • 4 min read