FCA consults on fees

FCA has published its annual consultation on fees and levies. Key changes to the current year’s policy include:

• introducing a £5,000 pa fee for proxy advisers;
• using income as the basis for calculating periodic fees for MTFs, OTFs and ROIEs;
• changes to special project fees mainly to update their application;
• a small administration fee for those that require paper invoices; and
• views on funding free-to-consumer debt advice.

FCA asks for comment by 13 January 2020.