Adviser regulation costs up 13% to almost £42m

Last year advisers in the A13 group - which do not hold client money - paid to £37.1m to fund the Financial Services Authority (FSA). Investment intermediaries that do hold client money/assets have been hit with an increase of £6.7m to £45.3m (17.5%). The FCA said this "reflects increased supervision of firms holding client money and assets, including more intrusive visits to firms and thematic projects". Overall the annual funding requirement for the Financial Conduct Authority (FCA) has been set at £432.1m and the combined FCA/Prudential Regulation Authority (PRA) funding for 201...