The FCA is consulting on the rates for the regulatory fees and levies for the financial year 1st April 2024 to 31st March 2025.
The FCA’s Annual Funding Requirement and financial penalty rebate results in a proposed £719.6m in fees payable by regulated firms for the 2024/25 fee year. This is a 14.4% increase on the prior year.
Based on the FCA’s proposed fee-block allocations, the following are some of the increases proposed:
- 19 General insurance mediation – 9.8%
- 23 Funeral Plan intermediaries and providers – 9.7%
- CC2 Consumer Credit-full permission – 18%
This consultation is open until the 14th May.