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.