The FCA today published Consultation Paper CP16/9: FCA regulated fees and levies: rates proposals 2016/17. The FCA has published this consultation since it is funded entirely by the fees and levies recovered from the firms it regulates and receives no subsidies from other sources.
The proposals in this Consultation Paper (CP) will enable the regulator to raise the funding for the FCA, the Financial Ombudsman Service (excluding case fees) and the Money Advice Service to meet their statutory objectives in 2016/17. It also includes the FCA’s proposals for consumer credit fees, the ring-fencing implementation fee and the pensions guidance levies.
All fee-payers will be affected by this CP. It does not contain material directly relevant to retail financial services consumers or consumers groups, although, indirectly, fees are met by financial services consumers.
We want to know what you think of our proposed 2016/17 fees and levies rates for the FCA periodic fees, consumer credit fees, ring-fencing implementation fee, pensions guidance levies, the Financial Ombudsman Service and Money Advice Service levies.
Comments are due by 27 May 2015 and the Consultation Paper together with the FCA statement can be found here.