The Financial Conduct Authority (FCA) has proposed a 70% increase in authorisation application fees for advice firms as well as a proposed restructure of the charges.
In a consultation paper published today (19 November), the regulator laid out plans to change advice firm authorisation application fees. It said it was considering increasing these fees for new firms by up to 70% for the next financial year of 2021/22. The FCA's application fees are based on the permission a firm is applying for and so the charge represents the regulator's assessment of the complexities likely to be presented by each permission. Elsewhere, the regulator proposed a restructure to the pricing in a "defined framework" and categorised them into two main features. It said...
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