FCA to increase adviser fees by 10% to £75m

The total levy proposed by the FCA for the next year is £481.6m, up 8.4% on the £446.4m from the current year. The FCA also proposed to increase its minimum fees, paid by firms with an annual turnover of between £1,000 and £100,000, by 8.4% - from the current £1,000 to £1,084 "in line with the overall increase in the annual funding requirement". The regulator said £16m of the levy increase will fund additional FCA staff to deliver its "enhanced objectives" while £11m will be used to upgrade technology and information systems and to develop its new learning suite FCA Academy. The Fi...