FSA implements fee changes

The FSA proposed a new way of calculation fees in October last year, and these changes have been implemented following a consultation period.

Fees for most firms have stayed at the same level as those suggested in the consultation paper of February 2008, according to the FSA, though some firms will actually see lower fees, lowering the overall costs suggested in the consultation paper.

The three fee-blocks that will pay lower rates include: fund managers in category A7; operators, trustees and depositaries of collective investment schemes in category A9, and firms dealing as principal in category A10.

Martin Walton, finance director of the FSA, says: “We are pleased that firms’ fee rates are either the same as or lower than those proposed in the consultation.

“However, we recognise that our planned expenditure for 2008/09 will be higher than in the previous year – this reflects the programme of activity set out in our Business Plan.”

Firms can read full details of FOS and FSA levies and how they are calculated here, or can use the FSA’s online Fee Calculator to get an indication of fees for 2008/09.

If you would like to comment on this story, contact:

John Bakie
Tel: 020 7484 9805
e-mail: [email protected]

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