The FSA will charge firms a minimum £10 levy to fund the set up of a proposed Consumer Financial Education Body (CFEB).
As a notional contribution, the charge will only apply to A-fee block firms, including financial advisers (in block A.13).
However the £10 figure may be revised upwards in the future if the costs of running the body are higher than expected, and will be reviewed after CFEB has been in practical operation, the FSA says.
Consultation paper CP09/26, Regulatory fees and levies - Rates proposals 2010/11 and feedback statement on Part 1, states the total budget for financial capability work in 2010/11, including the rollout of a national money guidance programme, is £45.4m.
The FSA will contribute £32.9m through fees and the proposed levy, with the balance likely to be received through a government grant.
CFEB would replace the FSA's in-house Financial Capability Division for raising public awareness and understanding of financial systems, currently delivered through the National Strategy for Financial Capability and Money Guidance, with all the relevant costs switched to the new body.
To promote 'long-term investment'
Switching 'hard and expensive'
Smaller funds still packing a punch
To drive progress