FSA rejects plan to overhaul fees policy

In a consultation paper on its fees and levies policy for 2011/12, it says there is disagreement between sectors this would be the fairest mechanism. The suggestion was one of two made by AIFA last year following the FSA's strategic review of its cost allocation and fee model. As well as calculating intermediaries' fees based on their revenues, AIFA suggested the FSA's 'indirect' costs - those for industry-wide investigations and other projects - should be based on the overall proportion of revenues intermediaries receive in relation to the whole financial services industry. "We do...