FSA mulls new fee block for firms holding client assets

The move comes as the regulator bumps up its regulatory focus on firms holding client money and assets (CM&A) following concerns about the 'unaccaptably high risks to consumers' in this area. It has created a specialist client asset unit to oversee these firms and now proposes a shake-up of its fee-blocks to ensure the correct firms are billed for the costs of the enhanced supervision. Under today's plans detailed in CP10/24: Regulating fees and levies, the brunt of the costs of the unit will not just fall on the A.12 fee block as at present (advisory arrangers, dealers or brokers (ho...