Regulator costs soar by 24%
New regulators must demonstrate more value for money, says NAO.
The cost of running two regulators - the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) - is 24% higher than for the Financial Services Authority (FSA), according to a report by the National Audit Office (NAO).
In its Regulating Financial Services the NAO put the projected combined costs for 2013/2014 at £664m, some £127m higher than the 2012/2013 cost of the FSA.
However, the auditor added that "these increased costs are set in the context of the potential
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