FCA 2016/17 core fees reduced for brokers
However 1.6% reduction could be offset by addition of consumer credit costs.
Financial Authority Fees (FCA) are set to fall according to the regulator's fee consultation paper for 2016/17 with brokers benefitting from a 1.6% reduction.
However, for the first time the FCA is including consumer credit in its operating costs and this additional cost could eat into any saving for brokers.
David Sparkes, head of compliance and training at the British Insurance Brokers' Association (Biba), said: "It has the risk of off-setting any saving."
Sparkes said although insurance
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