Base FSA fees on people, not income - Aifa

In a response to the FSA's consultation paper on fees and fees policy, CP 04/02, Aifa says the income-based tariff proposal unveiled earlier this year should be abandoned, as it is likely to "penalise" more well-organised and efficient firms. Many firms like those which have invested in quality back office support and compliance staff or systems are likely to prop up a higher income per capita. But current FSA proposals would effectively force organised firms to pay a higher fee to the FSA if they were required to pay according to the income-based proposal, says Aifa says and may not ...