Biba "alarmed" by FSA fee and levy proposals
The British Insurance Brokers' Association (Biba) has voiced its concerns over the proposals contained in the Financial Services Authority (FSA)'s Consultation Paper CP09/7.
Biba's chief executive, Eric Galbraith, said: "While we appreciate that the FSA has an ever-growing workload and that the fees for 10,000 small firms have been frozen, we are alarmed that medium and larger insurance intermediary firms are facing a year on year increase on their regulatory fees and levies of between 30 to 70%."
Mr Galbraith added: "Insurance intermediaries are recognised as one of the very lowest risk groups to the regulator's statutory objectives and yet are facing huge
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