The Financial Conduct Authority (FCA) has set a budget of £537.7m for the year 2019/20 which represents a 2% increase on last year.
The regulator, which is currently consulting on the proposals, stated that it is “committed to delivering an ORA [ongoing regulatory activities] budget that is flat in real terms”.
The document detailed that £29m in fees would be collected from regulated firms doing general insurance mediation. This is a 3.4% increase on last year’s figure which hit £28.1m.
- Ardonagh closes 24 Swinton branches
- Mactavish names all British Steel insurers
- Lamp’s proposed liquidation sparks debate on insurer stability and ratings
- Brokers warned over admin fees and commission
- Gibraltar insurer, Lamp, goes into liquidation amid insolvency
- Ardonagh losses decrease for Q1
- Martyn Holman joins Banks-owned Eldon Insurance board