FSA proposes £1,000 minimum fee

A consultation will soon be launched, asking firms to comment on proposals to make fees fairer and more transparent. The regulator has proposed introducing a minimum £1,000 fee for all regulated firms to cover the basic costs of regulation, with fees above this level increasing in direct proportion to a firm's size. Credit unions will be exempt and pay a lower fee. By the end of November, the FSA hopes to produce a new fees calculator to enable firms to assess the impact the new proposals will have. Mark Norris, chief operating officer at the FSA, says: "We are committed to delive...