FCA proposes to freeze fees for 4,000 adviser firms

Up 1.6% for larger firms

Hannah Godfrey
clock • 1 min read

The Financial Conduct Authority (FCA) has proposed ‘small’ adviser firms will have their regulatory fees frozen for the upcoming 2020/21 financial year.

Set out in its regulated fees and levies rates proposal document, published on Tuesday morning (7 April), the FCA proposed those classed in regulatory block A.13 - advisers, arrangers, dealers and brokers - collectively pay £80.7m in regulatory fees, up 1.6% from £79.4m the previous year. However, it also proposed certain firms should benefit from a freeze on fees, namely those the FCA considers to be ‘small' firms. In this context, ‘small' means the firms that pay FCA minimum fees. According to the FCA, there are 4000 adviser firms that come under this banner.  The FCA said the chang...

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