FCA core fees set to dip for brokers in 2017/18

Crowd funding

The Financial Conduct Authority (FCA) has revealed that brokers may see a small reduction of 0.6% for the 2017/18 fees. Under the proposals – which are now being consulted upon – the general insurance mediation section of the FCA will pay £27.5m in total to the watchdog. The decrease for the fee block from £27.6m the previous year would be the second fall in a row as last year it benefited from an overall 1.6% decrease. The news came as the authority detailed that its budget would rise by 1.5