The FSA has negotiated a payment by instalments plan to enable firms to again pay their regulatory fees by this method.
Interest rates of 3.35% (9.2% APR), with a rate of 2.85% (7.8% APR) for trade association members, have been negotiated and agreed for 2007/08 for firms wishing to pay their regulatory fees and levies invoices by instalment.
Chris Cummings, director general of the association of independent financial advisers (AIFA) added, “Having campaigned for the introduction of the scheme, we are pleased that it has been such a success and that members will continue to benefit from preferential rates and the ability to improve their cash flow. This is a good example of trade bodies and FSA working together to bring about a positive outcome for firms.”
