Group formed to tackle fee rises

The Association of Independent Financial Advisers (Aifa) and the Association of Mortgage Intermediaries (AMI) have formed a Regulatory Fees Strategy Group in response to the proposed FSA fee increases of 30% to 70% for medium to large intermediary firms. Fees for small firms have been frozen. Chris Cummings, director general, Aifa and AMI, who is chairing the group, said: "We support the case made by the FSA to charge the banking community more for its regulation - but cannot agree with the unwarranted level of fee increases proposed for the intermediary community, that has not caused the...