Levies to rise as FSA increases budget

The FSA’s latest business plan highlights additional staffing and enhanced supervision of small firms as the major factors affecting its operating costs in the coming year. The 7.1% increase in budget will mean the Annual Funding Requirement – money raised from firms – will grow by 6.9%. The FSA says it need to increase its budget to meet higher staffing costs of £11.5m, a £5.9m investment to increase small firm supervision, and an investment of £3.5m in the European Alternative Instrument Identifier. Uncertain market conditions have increased the need for the regulator to heighten super...