Biba chief bemoans expensive regulation as FCA proposes 8.4% hike
White highlights brokers already face the most expensive regulation in the world.
Steve White, the British Insurance Brokers' Association (Biba) chief executive, has bemoaned the fact that the fees for regulating the industry look set to rise.
He told Insurance Age that the Financial Conduct Authority's (FCA) proposal to raise fees by 8.4% for the 2015/16 financial year underlines that the UK has the most expensive regulation in the world.
The regulator said its plans mean the minimum fee of £1,000, which 38% of all regulated businesses pay, will increase to £1,084.
Inflation
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