FCA proposes £537.7m fee budget for 2019/20
The figure is a 2% increase on last year’s with £29m to come from general insurance mediation.
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.
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