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 • 3 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 COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Regulation

Most firms unable to meet bereavement claims performance levels: FCA

Most firms unable to meet bereavement claims performance levels: FCA

Call for improved bereavement handling times

Cameron Roberts
clock 22 November 2024 • 3 min read
Record-high receipts for IPT and employer NICs

Record-high receipts for IPT and employer NICs

HMRC data

Cameron Roberts
clock 21 November 2024 • 2 min read
Chancellor targets FOS modernisation and FCA consultation

Chancellor targets FOS modernisation and FCA consultation

Consultation part of the advice guidance boundary review

Isabel Baxter
clock 15 November 2024 • 3 min read