Brokers hit by 8.5% FCA fee rise
Regulator reveals plans to consult on FSCS levy in 2016.
The Financial Conduct Authority (FCA) has revealed that the general insurance mediation sub section will pay an extra 8.5% in fees for the financial year 2015/16.
The increase to £28.1m from £25.9m in the previous 12 months comes as the regulator's total annual funding requirement soared by 7.9% to £481.6m from £446.4m the year before.
The figures were unveiled in the watchdog's FCA regulated fees and levies 2015/16 document.
Increase
According to the FCA, the increase is mainly driven by a £27m
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