FCA to raise budget by 10.7%

nikhil-rathi

The Financial Conduct Authority has set its annual funding requirement for 2024/25 at £755m, an increase of 10.7%.

The watchdog detailed in its Business Plan for 2024/25 that this is still subject to consultation and will be formally set in its June policy statement. The FCA committed to publishing more details on fees in April.

The latest business plan is the third in the authority’s three-year strategy launched in 2022.

We will continue our assertive supervision of high-risk principals, through our regulatory tools and appropriate enforcement action.FCA

The authority has promised to be a data-led regulator

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Broking profits fall at Saga

Underlying profit before tax in Saga’s insurance broking arm fell to £39.8m for the year ended 31 January 2024, compared with £71.5m in the previous period.

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