FSA seeks £578.4m from financial services in final year

FSA chief executive Hector Sants

In what is likely to be the final Annual Funding Requirement (AFR) before the regulator splits into the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) in 2013, the FSA said the brunt of the cost would be borne by the larger firms that required direct supervision.

The statement from the regulator said that medium sized firms would see a “proportionate increase” that reflected the type of business they were involved in and that at least 42% of firms would only have

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