FCA sets out funding rise as PPI storm lingers

fsa-building-revolving-doors

New regulator increases annual funding requirement for FCA and PRA to £646.3m

No sooner had the Financial Conduct Authority (FCA) got its feet under the desk then it had already announced a funding rise.

The regulator – which officially came into force on 1 April – confirmed just over a week later that the annual funding requirement (AFR) for both the FCA and the Prudential Regulation Authority (PRA) will hit £646.3m for 2013/14.

Brokers are no strangers to rising fees and this is a 15% increase on the amount needed to fund the Financial Services Authority the previous

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FCA adds four more S166s to sector

The Financial Conduct Authority has slapped the general insurance and protection sector with another four skilled person reports as the crackdown continues.

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