Brokers to see FSA fees fall in 2011/12
Brokers will see a fall of 9.4% in minimum fee levels from the Financial Services Authority (FSA) in 2011/12 according to its Regulatory Fees and Levies consultation document.
The minimum fee for smaller brokers will fall to £844, while those charged by income levels will see a fall of 19% to £2.01 per £1,000 of annual income.
The FSA confirmed that its overall budget would increase by 10.1% for the year to £500.5m (2010/11: £454.7m) but confirmed that past fines accounted for the reduction.
A statement from the regulator read: "The enforcement fines the FSA imposes during the previous year are returned to the industry by way of discounts to their fees in the
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