FSA fees lower than expected for most firms

The FSA says the figure is lower than predicted for several reasons, including firms' higher than expected business volumes as well as greater numbers of firms in certain fee blocks. In nearly all fee blocks, increases in the minimum fee (the basic fee that all firms pay) have been capped at 3%. This will benefit around half of all regulated firms which only pay the minimum fee, the FSA says. Graeme Ashley-Fenn,director of the FSA's Contact, Revenue and Information management division, says: "We are pleased to announce that the FSA fee rates are lower than those proposed in the consult...