Keeping a levy head: FCA fee changes for 2016/17

06 Jul 2016

On the 30th June, the FCA published PS16/16, confirming that its levy for advisers will be £73.7m for 2016/17.

Whilst this is a much-needed decrease on last year, at 1.6%, it is not a substantial one. The underlying annual funding requirement remains unchanged from last year (£481.6m), and the proposed decrease in the cost of ‘ongoing regulatory activities’ is also confirmed. Fundamentally, the allocation of fees and levies has not changed from those proposed in CP16/9 published in April.

However, it should be noted that the FCA has listened to some of the challenges raised since April, with the result of some ‘tweaking’ around the edges.

To read the rest of this article in full, please click here 


The latest from SimplyBiz

26 March 2024

Mortgage Solutions: In conversation with Philip Daffern, Head of Lender Relationships at SimplyBiz Mortgages

Read more >

21 March 2024

SimplyBiz announces major tech upgrade for member firms

Read more >

21 March 2024

FIBA UK, part of SimplyBiz, adds Foundation Home Loans to lender panel

Read more >

12 March 2024

Fabian Wiesner: This time it's different...or is it?

Read more >