Regulatory costs now a 'huge problem' for networks, says Lighthouse director

Roger Sanders, managing director of the group's employee benefits division, said increasing FSA, FSCS and FOS levies combined with the costs needed to transition to an RDR-ready business model were hitting businesses hard. "The regulatory explosion in costs is a huge problem for nationals and networks," he said. "They have worked hard to keep fees down and this increase has become very difficult for them to manage." Sanders' comments come as networks Sesame and Paradigm Financial Advisers announced reviews of their pricing models which has seen costs rise for some members firms. ...