FCA consults on fees

FCA’s consultation on fees and levies for 2019/20. Among key proposals are:

• an increase of minimum fees and flat fees of 2% for the A, and CC1  and 2 fee blocks;
• unchanged variable fee rates for consumer credit firms that pay fees above the minimum;
• fee proposals for firms within the TPR, supervised run-off and contractual run-off structures post-Brexit;
• allocation of fees to cover FOS requirements; and
• the illegal money lending levy on consumer credit firms.

Consultation closes on 29 May.