The Financial Conduct Authority (FCA) has increased its annual funding requirement (AFR) - the amount it levies fee payers - for 2014-2015.
The regulator's AFR will be £446.4m for the next 12 month period, up from £432.1m in 2013-2014, it confirmed today in its latest Business Plan. Investment, mortgage and general insurance intermediaries will contribute 31.3% of that total, which is again an increase on the previous year, when it was 30.3%. However, due to the fee block reallocation carried out by the regulator last year, adviser contributions are down by 19% - they will now be paying £68m for the coming year compared to £83.6m paid last year. The overall increase in fees was also offset by the £10m the regulator sai...
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