Head of policy for the FSA's high street firms division, Eleanor Linton told brokers at the Biba conference they would not need to be compliant when they applied for FSA authorisation.
She said upo ...
Head of policy for the FSA's high street firms division, Eleanor Linton told brokers at the Biba conference they would not need to be compliant when they applied for FSA authorisation.
She said upon application, brokers would undertake to be compliant by 14 January 2005.
In response to CP180 on fees for FSA application, Linton said the FSA would consider further fee bandings.
It has proposed brokers with annual income of up to £1m would pay £1200 for a standard application, whereas brokers with annual income between £1m and £25m would be hit with an £11,000 bill.
Linton said that all of the FSA's final rules for brokers, along with accompanying guidance will be out in October, with conduct of business rules to follow at the end of the year.
