The Financial Conduct Authority (FCA) is considering changing the way it charges firms, including financial advisers, that want regulatory authorisation.
The regulator published a discussion paper on Monday, which outlined the various approaches it is considering for charging new applicants who want to enter to the regulated industry. It said it wants to ensure that authorisation fees are structured in a way to support competition and make it easier for firms to enter the market as well as expand in it. The ideas floated, initially focused on the 'A fee block' housing advisers, include charging new entrants the whole cost of their authorisation; splitting the charges between the new entrant and the other fee payers; or only charging th...
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