Regulatory reform costs doubled in swansong year of FSA

The costs of regulatory reform to the regulator reached £28.7m in the year to 31 March 2013, compared with £11.4m in 2012, according to figures published in the FSA's last annual report. An FCA spokesperson said: "These are one-off costs that are purely associated with the move from the FSA to the FCA and PRA. That regulatory implementation is not something that happens every year. I would not expect to see the costs grow year on year in the future." However, should the costs continue, the regulator said they are likely to be included in the regulator levy and split across the fee blo...