The FSA announced today that fees and levies on small brokers in 2005/06 will be...
The FSA announced today that fees and levies on small brokers in 2005/06 will be around 20% lower than the predictions laid out in the regulator's January 2005 consultation paper.
The FSA's fee for a small broker with an annual income of £73,000 will be £400, compared to the £500 estimate made in January.
Contribution to the Financial Services Compensation Scheme (FSCS) for the same firm would be £9 as opposed to the £13 laid out in January.
Levies for the Financial Ombudsman Service (FOS) for a small broker will be £50. The same figure was outlined in January.
The FSA said: “Overall the majority of FSA fees for all firms are either reduced or have remained the same as those contained in the January 2005 Consultation Paper. This is due to the FSA's funding requirement for 2005/06 being £6.6m less than originally forecast. Additionally in some fee blocks, the distribution of enforcement fines will reduce fees further.”
The full fee tables for 2005/06 will be published today.
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