FCA has published its final fees and levies for 2020/21. Almost all respondents to its consultation welcomed the freezing of minimum fees and the 2 month extension to payment terms for medium and small firms, but most wanted this applied also to large firms. Respondents also welcomed the proposed approach to the consumer harm campaign, and FCA is proceeding with it.
FCA also reports no objections to its plans to simplify authorisation fees or the changes to fees for MTF and OTF operators and insurance business transfer applications.
Finally, several respondents objected to the proposed general levy FOS increase but FCA points out FOS had consulted extensively on its plans some time ago.
FCA has published the new rules, with only few amendments.