Biba "alarmed" by FSA fee and levy proposals

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 percenta