View more on these topics

Apfa says advisers face 30% hike in fees despite lower FCA budget

The Association of Professional Financial Advisers estimates intermediaries face a 30 per cent hike in regulatory fees as part of the FCA’s £432m budget for 2013/14.

The FCA’s business plan, published this week, shows the annual budget for next year has been set at £432.1m – a 23 per cent reduction from the FSA’s £559.8m budget in 2012/13, of which advisers paid around £87m.

The FCA budget has been pushed down by certain costs now moved across to the new Prudential Regulation Authority.

Of the total £432.1m FCA budget, the industry will pay £391.5m, due to £40.6m in retained FSA fines. The business plan suggests around 30 per cent of the budget will be paid for by investment advisers, mortgage advisers and general insurance brokers, which would amount to £118.6m based on the £391.5m figure.

The FCA will publish a paper next month setting out the fees firms will pay.


New banks regulations are a ‘game changer’

The FSA and the Bank of England have outlined a series of regulatory changes designed to make it easier for new banks to set up in the UK. The changes, which came into effect today, have been the result of a review into the banking sector looking at the barriers new entrants face. The FSA […]

Simon Crone MS blog

MIGs should not put taxpayers at risk

As the dust continues to settle on this year’s Budget statement and more details of the Help to Buy scheme begin to emerge as key industry stakeholders give their feedback, there seems to be growing concerns about the Government initiative. Some critics have unfavourably compared the scheme with the Fannie Mae and Freddie Mac models […]


UK banks are in one hell of a pickle over £25bn hole

The conclusion of the Bank of England’s Financial Policy Committee that the UK’s banks need to magic up £25bn by the end of the year could have all kind of ramifications for lending, to both homeowners and SMEs. Now we know what created the hole — reckless lending by the banks, eurozone exposure and all […]

MS CC Index

Caption Competition

Submit a witty caption for the photo above and you will be automatically entered into our competition. Remember, the funnier it is, the more likely you are to win. What are you waiting for? Email printable captions only to

Get your New Year off to a flying start

Ross Jackson, Senior Marketing Manager There’s no denying that these days we expect things quickly. You might have noticed it first-hand during the flurry and rush of the Christmas period. The fact is that in a world of smartphones, social media and click and collect, most clients expect to get an instant response and a […]


News and expert analysis straight to your inbox

Sign up