AIFA issues adviser rallying call against FSA fee rises

In its consultation on fees and levies - part of the FSA's 2009/10 Business Plan - the regulator proposes increasing its total annual fee, which includes levies for the compensation scheme (FSCS) and Ombudsman (FOS) for hundreds of firms. Analysis of the fee proposals shows the bigger the adviser firm, the larger the fee increase. For example, a 10-person business will be subject to a 5.79% increase in the coming financial year whereas a 25-person firm will see an 8.24% rise. Sole traders will receive a discount of 2% - rising to around 5% in some cases when rebates from fines are appli...