FCA considers split fee-blocks for principal firms

The move follows its review of the Investment Firms Prudential Regime (IFPR) - the prudential regime applying to UK firms authorised under MiFID - which came into force in January 2022. The FCA froze minimum and flat rate fees in 2023/24 to support approximately 34,500 firms which pay minimum fees only. In its consultation paper on regulatory fees and levies for 2024/25 published today (21 November), the FCA explained most MiFID and non-MiFID firms fall under the A.10 block for fees and levies, which relates to firms dealing as principals. As part of its proposals, the regulator pl...