FSA signs off 9.9% rise in funding
The Financial Services Authority (FSA) has confirmed its annual funding requirement for 2010/11.
The annual funding requirement for 2010/11 is £454.7m, up from £413.8m in 2009/10.
Despite a 9.9% increase overall, the financial watchdog's statement said the introduction of a fairer and more transparent fee structure means 60% of firms will actually pay less. It added the increased cost of intensive supervision will be levied on those firms whose size and impact require the most regulation from the FSA.
The FSA said its budget reflects the determination to minimise any fee increases by
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