News

Fees for the new regulators

The FSA is consulting in CP12/28 on changes to its fees regime to adapt it for the Prudential Regulation Authority and Financial Conduct Authority. Proposed rule changes cover the introduction of separate PRA fee-blocks, the basis for PRA and FCA minimum fees, introduction of an FCA prudential fee-block, revised fee discounts for EEA firms that undertake regulated activities through a branch passported into the UK, and the basis on which the PRA and FCA can levy restructuring special project fees. Also included is the way the FCA should allocate the cost of funding the inherited FSA-defined benefit pension deficit.