Targeted Support: One-off firm costs could approach £69m

The regulator offered a central estimate of £43.8m, falling to £49.2m at the lowest end of the scale. Firms that look to bring in targeted support would also face ongoing costs, estimated to total between £24.6m and £41m. Most one-off costs are expected to come from building infrastructure, designing consumer journeys and compliance, the FCA stated in its targeted support consultation paper shared this morning (30 June). Meanwhile, ongoing costs will include consumer data analysis, resourcing service provision, outcomes monitoring, consumer support and ongoing compliance costs. ...