FCA opens consultation on 2023/24 fees and levies proposals

Consultation opened on how the regulator will be funded for 2023/24

Hope William-Smith
clock • 5 min read

Details on regulatory fees and levy proposals for the Financial Conduct Authority’s (FCA) funding for 2023/24 have been published today (29 November) with the regulator now seeking feedback from the industry on a range of proposals.

In a consultation opened today the regulator said it was "mindful of the significant inflationary pressures on businesses in the current climate". "We are determined to manage the rise in FCA costs as far as feasible over the coming year to ease the pressure on fees, particularly for smaller firms," it added. The regulator said it would take the December 2022 Consumer Prices Index (CPI) as a fixed measure and benchmark all estimated costs for 2023/24 against it. "We are giving due consideration to inflationary pressures as we finalise our budget for 2023/24 and do not expect it to ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Adviser tips

Partner Insight: How to talk to clients about approaching retirement

Partner Insight: How to talk to clients about approaching retirement

From how much clients should be saving towards retirement, to dipping into pension pot, tax implications and more, Lisa Conway-Hughes, chartered financial adviser at LCH Wealth answers our questions on retirement planning.

Sarka Halas
clock 05 December 2024 • 1 min read
Partner insight: Client needs, investment process and principles: What comes first?

Partner insight: Client needs, investment process and principles: What comes first?

As advisers shift to a solutions-based approach, how can they ensure they continue to place customer needs first?

Ken Scott, head of investment solutions at Royal London
clock 03 September 2024 • 2 min read
Editor's view: A cause for celebration

Editor's view: A cause for celebration

The editor's Friday Night Takeaway from 19 July

Jen Frost
clock 19 July 2024 • 2 min read